Yellow lines - Overall path and primary trend
Green circles -Rejections at resistance
Purple lines - Rising wedge
Red and white arrows - possible path.
I think either monday or Tuesday we're going to drop down to wedge support which is around the 50ma 240/239. from there you'll have a bounce. from 240 this should make its way up to either 249 (Primary trend resistance) or 256 wedge resistance then make its way back down to wedge support at 246 before earnings where it has the 50/50 chance of gapping on earnings to wedge resistance again at 260 or falling out with a bad ER. a fall through a rising wedge as you know would lead to a trip back to trendline support (Yellowline)
RSI is showing same picture
Green circles -Rejections at resistance
Purple lines - Rising wedge
Red and white arrows - possible path.
I think either monday or Tuesday we're going to drop down to wedge support which is around the 50ma 240/239. from there you'll have a bounce. from 240 this should make its way up to either 249 (Primary trend resistance) or 256 wedge resistance then make its way back down to wedge support at 246 before earnings where it has the 50/50 chance of gapping on earnings to wedge resistance again at 260 or falling out with a bad ER. a fall through a rising wedge as you know would lead to a trip back to trendline support (Yellowline)
RSI is showing same picture
