Devastating crash from the breakaway gap and it has plunged below support.
As I covered before, this could well be a downtrend and there are plenty of EV's in what appear to be perpetual downtrends.
This could well be another EV that never recovers.
However in terms of liquidity, it has made a new low below support and back within the long term 2.272 Golden Window.
And so reversals are more likely in this area.
In addition, the day RSI hit 23 yesterday which is almost as low reading as the previous crash low in January.
Earnings coming up and with the chart looking so diabolical, logic of reverse psychology suggests that it may have a bullish reversal.
It may not, it may just die but I think this has a good chance to at least see some sort of bounce back above support.
And it could be a big bounce.
And its not impossible that it could even be a ST Secondary Test market bottom, though that has to be somewhat outside odds.
So i'm playing LOTTO here and i'm buying that chart because it is oversold, the chart looks diabolical, its in higher liquidity area in printing a new low and earnings are next week.
Not betting the farm 😅.
Not advice.
As I covered before, this could well be a downtrend and there are plenty of EV's in what appear to be perpetual downtrends.
This could well be another EV that never recovers.
However in terms of liquidity, it has made a new low below support and back within the long term 2.272 Golden Window.
And so reversals are more likely in this area.
In addition, the day RSI hit 23 yesterday which is almost as low reading as the previous crash low in January.
Earnings coming up and with the chart looking so diabolical, logic of reverse psychology suggests that it may have a bullish reversal.
It may not, it may just die but I think this has a good chance to at least see some sort of bounce back above support.
And it could be a big bounce.
And its not impossible that it could even be a ST Secondary Test market bottom, though that has to be somewhat outside odds.
So i'm playing LOTTO here and i'm buying that chart because it is oversold, the chart looks diabolical, its in higher liquidity area in printing a new low and earnings are next week.
Not betting the farm 😅.
Not advice.
Trade active
Stab down below the 2.414 overshoot, but it became a lower wicked candle.Now back within the Golden Window.
This looks ripe for a reversal.
Earnings lottery tomorrow 👍.
Note
LCIDHas held well above the 2.414 overshoot ratio.
And it looks like a 3 wave bearish correction may have completed.
This little structure increases the odds of it breaking out from this higher liquidity area 👍.
Note
LCIDHas pushed back up into the Golden Window.
Yet again we have the slightly lower low with bullish RSI divergence.
This is still very dangerous of course, but it is now a technical buy...
Because we have Wyckoff price action, RSI and the Golden Window all signalling a buy 👍.
No guarantees though 😅.
Note
LCIDIs pumping - up 18% 🚀😅.
This may also be a nice little signal about what may happen in the overall market 👍.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
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I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.