Someone is saving us from a deep plunge into the abyss with the large buy order at $1.
| Event Details for: Descending Continuation Triangle
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| Tells Me: The increasingly lower highs and constant lows within this pattern tell us that sellers are more aggressive than buyers, confirmed by a break down through a support level to signal a continuation of the prior downtrend. A Descending Continuation Triangle, with its increasingly lower highs and constant lows, indicates that sellers are more aggressive than buyers The pattern typically forms because a demand for shares is available at a certain price, represented by the lower flat line propping the price up. But when the supply depletes, the shares quickly break down below the bottom boundary line and move lower. |
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