Post
Topic
Board Speculation
Topic OP
Bearish Inverse Pennant Chart Formation
by
SwannyMatt
on 11/04/2013, 01:49:31 UTC
First off, I aint selling.
Secondly, I do believe chart patterns are mostly -- if not entirely -- a sort of self-fulfilling prophecy.

However there is a nasty inverse pennant formation brewing if you look at a one or two month closing chart with 30 minute or 1 hour interval. I'm on mobile and can't link to it, but please punch that in and see for yourself.

I'm scrounging up as much money to buy on the way down. Target price may be as low as $40 and might hover around there for as much time as the price had hovered around $2-$10 after the $30 peak in summer 2011 until october 2012.