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breakout intermediate
It does looks like there are absolutely no bears to further support the dump to $560, despite the strong resistance at $680 and a possible triple top/head & shoulders formation on June 5.
A look at this in another perspective: [See the one marked in blue]
As the formation of the pennant gets slimmer and with a decreasing volume, 70% chance it'll most likely head to the upside with a breakout. Once that starts, there'll be no stopping until $722.
If it does move to the upside, it will be pretty short-lived too.
This is also further supported by MCAD, RSI, Ichimoku cloud, & SAR on the chart.
A look at this in another perspective: [See the one marked in blue]
As the formation of the pennant gets slimmer and with a decreasing volume, 70% chance it'll most likely head to the upside with a breakout. Once that starts, there'll be no stopping until $722.
If it does move to the upside, it will be pretty short-lived too.
This is also further supported by MCAD, RSI, Ichimoku cloud, & SAR on the chart.
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