BLOOM is back within its 8-month Upward Price Channel consolidation and on a potential breakdown from a Double Top pattern (still requires confirmation). If this breakdown continues to unfold, measured target price is around 8.50.
*Recent pullback which followed after forming a Double Top pattern was also forewarned by a Bearish Divergence pattern on some indicators like CCI.
See previous analysis for reference:
https://psetrends.blogspot.com/2017/04/bloom-price-action-analysis.html
Trading Plan
- Avoid for now.
No comments:
Post a Comment