Hi Max,
you're not getting many logical arguments because it's hard to talk to you, you seem to strike any logical argument down.
Even if you disagree about it there is no point arguing about it on here? agree to disagree but negativity on stock will not be met kindly on any HC thread, especially this one.
Anyway that aside not sure what a TED is, I presume it is a rising wedge pattern which is what I see in your chart, implying an imminent drop in the SP. Not sure why your top line and the bottom line looks like they are starting at different times? Is there a reason you do this? with it pivoting like that you will be able to manipulate a chart to look like whatever you want. Not saying its wrong, but I guess its a matter of perspective. Each to their own.
As a rule:
1) I try to draw support and resistance lines very close to the same period of time, so not starting the top line far ahead of the bottom line, that way you can pivot any direction you want and make the chart look like what you want it to look like.
2) I try to touch the support and resistance lines to as many bars as possible, if I cant I try to get at least 3 bars even if the cut through them. As long as the starting bars and ending bars of the tops and bottoms are touching, I am happy.
Taking these two factors into account, my chart looks like an upward channel. The outcome of this could still be as you implied Max, however, if the SP moves sideways from this point, I am implying that this is just a range consolidation phase and we will see a next big leg up as we saw at the 0.245C stage. AIMO and could be completely wrong.
My chart:
What I see is a series of bullish flags when drawing static lines. We still see a strong relationship here with the 15MA and 20MA, so again I think static support lines will not be a very effective way to chart WKT progress, its progression is more dynamic and in relation to the MA's, this was the initial problem I had with plotting WKT.
Will the SP go up or down? because of strong FA or fantastic looking TA charts? really nobody knows. Investing is a statistical game, based on samples, nothing is guaranteed.Always trade to the level of risk your comfortable with.
AIMO.
For anyone not into FA is interested, I've referenced this a thousand times so far I think, its an article about charting that I keep coming back to and worth a read. There is a video too. Range exploration and Range consolodation are two concepts that are easy to identify on any stock.
https://www.bushmaster.co/4-day-trading-strategies-for-beginners/
(20min delay)