Long after uptrend and break from falling wedge
There are several faling wedges in the yearly chart
Falling wedges are bullish and can signal a reversal
Price must break up and out in a confirmed, strong uptrend.
This stock made a new bottom Friday and could possibly make another one, or more, so maybe just one to keep an eye on if interested..
In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.
As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.
There are several faling wedges in the yearly chart
Falling wedges are bullish and can signal a reversal
Price must break up and out in a confirmed, strong uptrend.
This stock made a new bottom Friday and could possibly make another one, or more, so maybe just one to keep an eye on if interested..
In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout occurs.
As a continuation pattern, the falling wedge will still slope down, but the slope will be against the prevailing uptrend. As a reversal pattern, the falling wedge slopes down and with the prevailing trend. Regardless of the type (reversal or continuation), falling wedges are regarded as bullish patterns.