Stock has given a clear breakdown from a classical rising wedge pattern.
Accumulation of sellers in the last three sessions can be clearly seen in the volumes. RSI<60 suggests that buyers' have now lost momentum and sellers could be dominant for few coming sessions.
It may retest the above the trendline and then continue the downfall. So wait for the right price action before you enter into a trade.
Discliamer: Take this view for educational purpose. Trade on your own risk.
Happy trading. Happy investing!
Accumulation of sellers in the last three sessions can be clearly seen in the volumes. RSI<60 suggests that buyers' have now lost momentum and sellers could be dominant for few coming sessions.
It may retest the above the trendline and then continue the downfall. So wait for the right price action before you enter into a trade.
Discliamer: Take this view for educational purpose. Trade on your own risk.
Happy trading. Happy investing!