40% rapid descent for United Airlines holding, Inc
Updated
On the above monthly chart price action has enjoyed a 180% upward move. There is evidence in the chart for a strong pivot, which includes:
1) Price action strikes legacy support for resistance test.
2) No market structure backtest to confirm support on breakout. A 40% correction is required to confirm.
3) On the 5 day chart (below) 17! Green candles print until market resistance. This is the strongest rally ever in the history of this stock before a market pivot. Previous to that was the 9 straight green candles on October 2016, which was followed by a 25% correction.
4) Short interest, 4%.. the market is far too bullish.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
5 day
1) Price action strikes legacy support for resistance test.
2) No market structure backtest to confirm support on breakout. A 40% correction is required to confirm.
3) On the 5 day chart (below) 17! Green candles print until market resistance. This is the strongest rally ever in the history of this stock before a market pivot. Previous to that was the 9 straight green candles on October 2016, which was followed by a 25% correction.
4) Short interest, 4%.. the market is far too bullish.
Is it possible price action continues to rise? Sure.
Is it probable? No.
Ww
5 day
Trade active
BTC
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
bc1q2eckdzh0q8vsd7swcc8et6ze7s99khhxyl7zwy
Weblink: patreon.com/withoutworries
Allow 3-6 months on ideas. Not investment advice. DYOR
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