$F.US$ The stock has broken out of what technical traders ca...
$F.US$ The stock has broken out of what technical traders call a falling wedge pattern. The break of pattern resistance started the reversal.
The price was slowly falling and being condensed between narrowing highs and lows until the price was able to break above resistance. This caused a trend change and now the stock looks to be forming into higher lows.
The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is likely facing a period of bullish sentiment.
Each of these moving averages may hold as an area of support in the future.
The price was slowly falling and being condensed between narrowing highs and lows until the price was able to break above resistance. This caused a trend change and now the stock looks to be forming into higher lows.
The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is likely facing a period of bullish sentiment.
Each of these moving averages may hold as an area of support in the future.
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