The overshoots upper bound should be limited by the trendline from the blow off top:
Yesterday it touched that trendline and bounced back.
This is a good level to enter or add on to a short position.
Friday, July 26, 2013
The blow off top in Gilead Sciences
GILD has a top with what I call an overshoot. It backs down before making a final (presumably) attempt higher.
The overshoots upper bound should be limited by the trendline from the blow off top:
Yesterday it touched that trendline and bounced back.
This is a good level to enter or add on to a short position.
The overshoots upper bound should be limited by the trendline from the blow off top:
Yesterday it touched that trendline and bounced back.
This is a good level to enter or add on to a short position.
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