$TNB Bearish Ascending Channel Break

The ascending channel pattern has broken to the downside. This is a technical indicator that lower prices are to come. Traders should wait it out on the sidelines on this. In the event that TNB attempts to reinsert itself into the channel we should wait for confirmation given by volume and oscillator positions to enter any long positions in this. That being said, this looks like it will correct even lower in the near term.