Symmetrical Triangle to the Downside

KSS missed earnings and buyers came in. KSS traded to resistance level of prior gap down.
Opened lower today than close yesterday so perhaps it traded down in afterhours.
Price dropped from a symmetrical triangle a while back.

No recommendation.

Kommentera:

Whenever, there is a gap (window) that means that no price and no volume transacted hands between the gap. It is like a hole in the price chart.
When price gaps down, the gap can cause resistance. When price gaps up, the gap can create support.
A gap up is often considered bullish and a gap down is usually considered bearish. Looking at the volume accompanying the gap can help discern if the direction of the gap is sustainable.
Gaps can tell you that something important has happened to the fundamentals or the psychology of the market.

Kommentera:

I meant to mark this as a Short