We are touching the head and shoulders neckline at $162 highlighted in black.
The good:
- RSI on the daily is showing oversold signs, so price should start bouncing back up.
- There is an exaggerated divergence pattern between RSI and Price
- Momentum is still
The bad'
- The price is coming close to the support which is at $162 as well.
- Volume for sell off is not very concerning but still a little bit.
- There is a weak bearish candlestick pattern forming on the daily /weekly.
- If the price goes below the support zones around $160, then the next target is easily $130-$135.
So please set your stop losses.
It can be shorted TEMPORARILY because I mentioned in the previous ideas that this is near the first TAKE PROFIT zone. This was around $173. I will share the link below. You can see how all my charts have played out exactly the way I said it would.
Chart 1:
Chart 2:
QNT IN WYCKOFF:
The good:
- RSI on the daily is showing oversold signs, so price should start bouncing back up.
- There is an exaggerated divergence pattern between RSI and Price
- Momentum is still
The bad'
- The price is coming close to the support which is at $162 as well.
- Volume for sell off is not very concerning but still a little bit.
- There is a weak bearish candlestick pattern forming on the daily /weekly.
- If the price goes below the support zones around $160, then the next target is easily $130-$135.
So please set your stop losses.
It can be shorted TEMPORARILY because I mentioned in the previous ideas that this is near the first TAKE PROFIT zone. This was around $173. I will share the link below. You can see how all my charts have played out exactly the way I said it would.
Chart 1:
Chart 2:
QNT IN WYCKOFF:
註釋
For it to turn bullish it MUST clear this resistance 取消訂單
Failed below safe line. $130-$146 possible
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