I hate to say it but this looks like an ending diagonal triangle move within a wave 5 to me. And likely to be a bearish turning point in the short term.
Wouldn't surprise me if this reverses either on the blue trend line crossing around $5.74, or does a throwover and heads for $6 then turns into a correction back to the start point of the diagonal triangle around $4.20
A very similar pattern showed up a the end of the big run in AKE between oct21 and april 22:
asb83 is apparently bullish with sentiment "not held" which is a strong indicator that his employer has paid him to spend his time on here pumping this last wave up D-E to give their short positions extra momentum on the way down in a few weeks.
Note - I am very bullish long term, and I'm not selling my lth, but this one looks like it is due to turn south hard very shortly.
I hate to say it but this looks like an ending diagonal triangle...
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$2.83 |
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