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.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.