UBER Falling Broadening Wedge
Support/resistance lines
1. $41.95
2. $33.96
Trend lines
1. The first main trend line begin with the IPO lunch and forms the support line for the falling wedge.
2.The second main trend line begin with the initial structure high at $47.16 and forms the resistance line for the falling wedge.
Falling Broadening Wedge
We can see the Falling Broadening Wedge forming slow with the Highest point at $47.17 and the lowest point at around $15. The resistance trend line has been touched 2 times and the support trend line has been touched 3 (4) times since the form.
In the falling broadening wedges the most usual scenario is the the price consolidation when falling in that two trend lines and in some point the price to break the resistance trend line and form a breakout.
RSI
1. 5-Period Rsi
In that period i used it to define the main swings/waves of the charts.Based on oversold-overbought areas.
2.14-Period Rsi
In that period i used to define possible divergences.
Scenario
1. $41.95
2. $33.96
Trend lines
1. The first main trend line begin with the IPO lunch and forms the support line for the falling wedge.
2.The second main trend line begin with the initial structure high at $47.16 and forms the resistance line for the falling wedge.
Falling Broadening Wedge
We can see the Falling Broadening Wedge forming slow with the Highest point at $47.17 and the lowest point at around $15. The resistance trend line has been touched 2 times and the support trend line has been touched 3 (4) times since the form.
In the falling broadening wedges the most usual scenario is the the price consolidation when falling in that two trend lines and in some point the price to break the resistance trend line and form a breakout.
RSI
1. 5-Period Rsi
In that period i used it to define the main swings/waves of the charts.Based on oversold-overbought areas.
2.14-Period Rsi
In that period i used to define possible divergences.
Scenario
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