Stop goes under C as a rule and the Target is D
PCAR also formed a V Bottom and got off the bottom quickly. The was caught up in a bearish rising and narrowing wedge which has slowed it down significantly.
Support looks firm for now
V Bottom: Price will usually make a fast and furious move down with little or no pauses. Usually a one day reversal or an island reversal forms pushing it off the bottom and then price rises up in the same fashion it went down in and is usually a mirror image of the leg down. Best to wait 2 o3 days at bottom to be sure the trend changes.
Not a recommendation
PCAR also formed a V Bottom and got off the bottom quickly. The was caught up in a bearish rising and narrowing wedge which has slowed it down significantly.
Support looks firm for now
V Bottom: Price will usually make a fast and furious move down with little or no pauses. Usually a one day reversal or an island reversal forms pushing it off the bottom and then price rises up in the same fashion it went down in and is usually a mirror image of the leg down. Best to wait 2 o3 days at bottom to be sure the trend changes.
Not a recommendation
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