NASDAQ and Tech at Crossroads
Friday should be important in determining the direction of tech. RSI and Stochastics are in oversold territory and price has found support at the bottom of a down channel. This could be indicative of a potential reversal. If this reversal plays out, an inverse head and shoulders pattern will have formed- potentially leading to even higher price movement. On the flipside of the coin, if price breaks down at this current support level, we could see a retest of the March 5-8 lows.
*Personally am leaning to go long, but always wait on price action for confirmation.
*Personally am leaning to go long, but always wait on price action for confirmation.
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