CAN is printing a Broadening Bottom Megaphone pattern on the CAN daily chart; the RSI looks to be increasing on the price lows indicating increased momentum.
Zooming out it also looks like an accumulation pattern has been forming over the past several months.
The megaphone may work as the "Spring / Test" stages for Phase C if it plays out and bring the price back up into the recent trading range.
If the Megaphone breaks down, then it may be a take a while to climb back.
I am not a financial advisor or professional trader by and stretch, so please do your own research.
Zooming out it also looks like an accumulation pattern has been forming over the past several months.
The megaphone may work as the "Spring / Test" stages for Phase C if it plays out and bring the price back up into the recent trading range.
If the Megaphone breaks down, then it may be a take a while to climb back.
I am not a financial advisor or professional trader by and stretch, so please do your own research.