A pennant chart pattern often ends with a breakout upwards or downwards, before the tip of the pennant is reached. Didn't happen in this case. The most likely next moves will be a wobbly continuation along the downward-sloping support line, until the next breakdown or rally. The chart can't predict whether the direction of the next substantial move will be up or down.
The downward-sloping support line began to form two months ago, long enough to indicate that the support line is strong. So, I'm expecting more of the same until some fundamental news arrives.
NEU Price at posting:
$12.25 Sentiment: Hold Disclosure: Held
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