JNor

NAKD Diamond Pattern in play

NASDAQ:NAKD   None
Price action in past few days has led to the emergence of a Diamond pattern. Given that Diamond bottom reversals are pretty rare, I would not be trading this inside the pattern but wait for a breakout confirmation accompanied by strong volume. I don't like this pattern in general and is more often than not a bearish pattern. An upside breakout also has little room to run before hitting another major resistance level, so I think a pullback to the pattern would be highly likely. You start chopping around there too long and it eventually all collapses. Just too risky here.

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.