OPEN broke out of rising wedge & may test support
OPENDOOR
Recently this stock tested resistance and got rejected toward the downside. The downside rejection has caused the price to move outside of the rising wedge. The price may fall rapidly to test support levels which were previous highs on the chart. Usually a breakout causes rapid change in price movement to either the upside or downside. In this case, the breakout to the downside may be further extended until the price reaches a strong level of support. The 3 hour chart of OPEN with the echo indicator predicts a possible outcome which I agree with. The echo indicator predicts future price movements with dotted lines on the chart.
Recently this stock tested resistance and got rejected toward the downside. The downside rejection has caused the price to move outside of the rising wedge. The price may fall rapidly to test support levels which were previous highs on the chart. Usually a breakout causes rapid change in price movement to either the upside or downside. In this case, the breakout to the downside may be further extended until the price reaches a strong level of support. The 3 hour chart of OPEN with the echo indicator predicts a possible outcome which I agree with. The echo indicator predicts future price movements with dotted lines on the chart.
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