SNSN schreef op 31 oktober 2018 19:25:
[...]
MT-horizon:The stock is in the mid-term downtrend since Jul 24, just moving down within the downtrend channel. The upper/lower downtrend borders are currently ~164 / ~136
ST-horizon:The stock is rising within the short-term 'rising wedge' pattern since Oct 25 (when 'new low' at ~138 was formed). The rising 'support line' (given by the 'bottoms' on Oct 25 & 30) is currently around ~147. The rising 'resistance line' (given by 'tops' on Oct 25 & 29) is ~152 today, and almost coincides with the SMA(20). The 'critical pattern time' is Nov 6-7.
The (first) 'pattern target' is ~138, the next one (second 'pattern target') is ~131.
By the way, all short-term 'rebounds' within the mt-downtrend since Jul 24 (i.e. short-term uptrending on Aug 17, Sep 12, Oct 11) followed just the same (rising wedge) pattern, though of different durations (the last one was actually the shortest).
Given that (almost) all mt-rebounds (at least, since 2015) were signaled by the 'double/triple-bottom patterns' (accounting also for some other stuff), the prob to see 138 level again, or even lower is really very high.
Don't also forget that Eur/Usd rates are falling sharply down (to the level of Aug 15), and some current 'stock impact' in the states is caused by just tech-trading 'hedging strategies'.
Good luck.
PS.
The rising 'support line' since Oct 25 (for rising wedge pattern) may be tested within a couple of sessions at ~148-150.