The charts reflect the dance between news and inve
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Posted On: 12/14/2021 5:27:37 PM
The charts reflect the dance between news and investor sentiment. The current sentiment is that share price can't go up until we get an approval. That's because all recent news has been met with shrugs and continuing price falls. Fractals say that price tends to move in linear parallelogram or wedge channels until breaking hard in the other direction. It's not a gentle sinusoidal process and that's what breaks investor psyche.
The reversal on wedge breakout will mark a reversal in sentiment trend. People will start speculating again and moving price up on most news instead of down, even if the news is not yet full approval. If the breakout happens on meeting NASH endpoints next week, approval will still be far away. Chart is saying we are ready for a high degree sentiment reversal -- any positive news trigger will do.
The reversal on wedge breakout will mark a reversal in sentiment trend. People will start speculating again and moving price up on most news instead of down, even if the news is not yet full approval. If the breakout happens on meeting NASH endpoints next week, approval will still be far away. Chart is saying we are ready for a high degree sentiment reversal -- any positive news trigger will do.
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