1) bearish rising wedge (blue&red lines)
2) look at the black line to see why today it gapped down and all day was weak
3) today's gap down probably hints that the intermdiate-term uptrend may be ending
4) RSI is weakening, MACD is a death-cross, and decreasing volume
5) note that the intermdiate-term uptrend is still intact (today's rebounce at $73.5 is right at blue line!). so that 3) is just a speculation, and is good only for agressive traders.
6) the only risk for shorters is next week's ER. to be safe, bears can just wait for the breach of blue line. when breaks with volume, short it to death.
7) targets: 70, ~62, 57, 52 (should reach ~62 within 1 month) |