VNDA Descending Triangle Pattern. Short (and Long) Opportunity.
Simple probability set up. Triangle downtrend started in 11/2016 and
VNDA
has only been through one full harmonic trend (wave) ever since. Second wave downward move imminent with RSI confirmation @ 35 and bearish $13 target.
However, aggressive long entry for quick profit ($15 bullish target) especially with upcoming earnings. Upon $15 target, (expected RSI >50) short for mid-term trend follow.
Quick Long Target: $15
First Short Target: $13
Second Short Target: $11.50
Total trade should complete by/in April.
VNDA
has only been through one full harmonic trend (wave) ever since. Second wave downward move imminent with RSI confirmation @ 35 and bearish $13 target. However, aggressive long entry for quick profit ($15 bullish target) especially with upcoming earnings. Upon $15 target, (expected RSI >50) short for mid-term trend follow.
Quick Long Target: $15
First Short Target: $13
Second Short Target: $11.50
Total trade should complete by/in April.
