Oct. 4 at 8:40 PM
$SANA
Fundamental landmarks:
1. neckline (NL) is a descending slope (with values decreasing the further left you go (obviously))
2. Red broken line w/ ascending slope (in red circle) = an approximation of the lower bound of an ascending wedge (bearish formation)
3. Pink horizontal lines:
$4.00 &
$3.88
PT range(s)
PT #1.
$4.657-
$4.726
PT #2.
$6.33-
$6.56 ??
PT #2b.
$6.89-
$7.12 ??
Suspected/anticipated movement:
- vacillation between
$3.88-
$4.00 (next 2-3 weeks)
- Assumed breakout price (from NL):
$3.94
- Red circled area: breakout Before or when it hits the vertex of the 2 red (broken) lines*
*angle of the ascending red line is not accurate (in the chart)
PT #2 commentary (a pivotal moment for bulls/bears):
- before PT2 is hit (if it is hit at all), I expect an attempted revisit of the neckline + renewed bearish vigor into the revisit event. As the neckline is descending, the revisit (should it occur) will be at lower prices
See notes in next message…
An opinion
