On the bottom of the channel
The Green line seems to be an ascending trend for the stock to hug, since it was serving as support up to mid December, and seems to now be a resistance.
We have 515 as current support, and the first resistance on the horizontal line of 542, and the green line after that.
On the bull case, the stock should move to the channel between 542 as support and the greenline/570.
The bear case would be if the next rejection is at 542, without reaching the green line. If that is the case, it might fall back to what seems the next support at 500.
We have 515 as current support, and the first resistance on the horizontal line of 542, and the green line after that.
On the bull case, the stock should move to the channel between 542 as support and the greenline/570.
The bear case would be if the next rejection is at 542, without reaching the green line. If that is the case, it might fall back to what seems the next support at 500.
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