From Watchlist. YUMC. Not seeing decisive price action.
This is a good long term bullish stock for me, but I'm trying to play the stocks I think will be making decisive moves. This isn't it for me. The correction is too complex. I like to see a nice wedge or flag formation, and this is a continually descending. I think they call it a flat or an expanded flat. I would like to see it finish with a zig zag or a triangle, but I'm not seeing either of those develop yet, regardless of how hard I squint.
Could it make a drastic move. Yes, of course that is always in the cards. But, I don't think it will based on the price action I am seeing here. Take all of this with a grain of salt. Whatever I'm doing here, I'm inexperienced at it. At least I can say I took the path tool and followed it, so I'm not missing anything, but still this is a tricky one. I can't imagine many retail traders thinking the shape it's making is an inviting one.
Could it make a drastic move. Yes, of course that is always in the cards. But, I don't think it will based on the price action I am seeing here. Take all of this with a grain of salt. Whatever I'm doing here, I'm inexperienced at it. At least I can say I took the path tool and followed it, so I'm not missing anything, but still this is a tricky one. I can't imagine many retail traders thinking the shape it's making is an inviting one.
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