Here we see a right angle broadening formation, with the accumulation line on the bottom.
What appears to be an island reversal pattern appeared in the daily chart, marked by the yellow rectangle, which is typical of congestion patterns like this.
Broadening formations are typical of late stage bull markets and are accompanied by irregular volume throughout.
A majority of broadening formations carry bearish implications, and a breakout occured today in SNAP, although not by the generally "safe" 3% margin.
I would expect a throwback, but the pattern implies a -65% move to the downside to 17.5, although not necessarily soon.
What appears to be an island reversal pattern appeared in the daily chart, marked by the yellow rectangle, which is typical of congestion patterns like this.
Broadening formations are typical of late stage bull markets and are accompanied by irregular volume throughout.
A majority of broadening formations carry bearish implications, and a breakout occured today in SNAP, although not by the generally "safe" 3% margin.
I would expect a throwback, but the pattern implies a -65% move to the downside to 17.5, although not necessarily soon.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, alım satım veya diğer türden tavsiye veya öneriler anlamına gelmez ve teşkil etmez. Kullanım Koşulları bölümünde daha fazlasını okuyun.