UNI: Descending Triangle

As you can see, there is a descending triangle on UNI however, that doesn't mean short but it might signify a possible reversal.
I have added in a trend based fibbonaci extension line for you to see where one of the key resistance levels are.

At the 0.5 point on the fibbonaci extension, we can see it has been tested a few times so that is a possible resistance to look out for.

I will remain neutral on UNI for now until it can make a bullish breakout of the triangle.

Disclaimer: Once again, Not Financial Advice

Kommentera:

Looks like the descending triangle held true and UNI has dipped to $33.5 but rebounded back.
I entered UNI during the dip and my plan is to have a trailing stop above the 0 fibbonaci level