6.25 Early Morning Analysis
The 30-minute chart for the stock is currently forming an ascending wedge. Initially, I thought it would drop, but instead, it surged upward. This pattern often plays with false breakouts; even though it looks like it's rising, it could collapse at any moment.
Currently, the short-term rise is almost complete, but according to the usual pattern, there should be one last push upward. It is highly likely to be pulled up to around 2480 to lure in more buyers, and then it will quickly plunge. If you want to short, there are two opportunities:
1. Wait for the price to rise to around 2480 to set up a short position.
2. If the 1-hour line breaks below 2380, you can also short then.
The first target is 2330, and if it goes lower, it could reach 2215.
