Wayfair has been consolidating for quite some time now. Was expecting the breakdown afterwards but it looks like I was wrong. The current formation is reminiscent of a cup&handle and coupled with the recent breakout looks to be making a mvoe up.
Yorum
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There will definitely be a correction tomorrow. We will see if it's confirmed to go higher or if it will tank with the SPX500 down 1% on overnight futures.
It may be a buy technically, but there is are sure no fundamentals to back its run up. Just another Tesla... insane valuation, but has never made a penny. It's crazY!
Elias369
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Any retracement coming soon?
MysteriousPersian
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@Elias369, i see a correction coming to retest the new support region at the 190's zone. This will either confirm the breakout or it will breakdown back into the 180 region which would infirm the breakout and send it back into a downtrend