SNSN schreef op 27 november 2018 20:37:
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Nothing new on mid-term horizon:The stock is in downtrend with upper/lower edges just slightly lower (read just above).
On short-term horizon:The stock did confirmed 'rising wedge' pattern (read above). The 'rising resistance' & 'rising support' lines are (average intraday points):
~149.6 & ~146.2 today (you see forecasts at opening above), and should be around
~150.5 & ~148.4 tomorrow. The 'break out' point is Nov 30 (or earlier). The (first) target is ~136 (read old posts).
On daily scale the 'rising support' was tested 4 times (Nov 20, 23, 26, 27), while 'rising resistance' just a couple of times (Nov 21 & 26). The (strong) resistance zone ~148-150 (former s-zone - read old posts for details) is one of the reasons (restricting the upper edge of trading range).
As for drivers and statistics, the 'rising wedge' pattern is caused by special structure of p/v/t-distributions and it's really reliable indicator (that accounts for a set of strategies when st-cashing objectives dominate). Indeed, 'rising wedge' patterns were formed for more that 10 times within last year (read old posts) and all of them were broken down. Some premature upwards (fake) 'break out' is a common 'tool' to lock in at 'new high' (one can find a few examples within last months). The (real) change in 'break out' direction may be cased just by (really) new objective info that all players understand in the same way...
Good luck.