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ZMan

3,604 Posts.

768

18/12/17

10:20

Post #: 29700287
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Originally posted by vafooli ↑

You are correct that the current formation is looking like it is developing into a descending triangle. But it hasnt broken support, and may end up breaking upwards, we will see today or tomorrow IMO. But overall we are actually in a long term bullish run, with what looks like some short term profit taking. Next run shouldnt be too far away. With continued growth on the cards, eventually SP will reflect revenue growth. Institutional investors will eventually have to buy in if they want to make money for their clients. This would be a good opportunity for them while the SP has taken a breather. When instos start to pile in, we will see another good run IMO. Just my humble thoughts.

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Lets keep it real:
“Regardless of where they form, descending triangles are bearish patterns that indicate distribution.”
http://stockcharts.com/school/doku....art_patterns:descending_triangle_continuation

BIG Price at posting: $3.35 Sentiment: Hold Disclosure: Held
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0 Great analysis

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