Aug. 15 at 6:02 AM
$INOD After the 5th consolidation candle on the left chart, price began breaking down from 110 to 71. A breakdown that took only 5 days. What we know about bear flags is before a breakdown, price rallies. It's to trap bulls. Price often has a fakeout. Then breaksdown. Trapping the bulls. It's the opposite for bull flags. What this signals is that next week price likely breaksdown to 55.40 support. If that breaks then 50 support and eventually 47.33 gap fill. 27% away from the current price. For
$INOD that's a 1 or 2 week decline. Easily achievable.
