The Falling Wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge. In contrast to symmetrical triangles, which have no definitive slope and no bias, falling wedges definitely slope down and have a bullish bias. However, this bullish bias cannot be realized until a resistance breakout.
Prior Trend: To qualify as a reversal pattern, there must be a prior trend to reverse. Ideally, the falling wedge will form after an extended downtrend and mark the final low.
Our wedge began on June 27th and July 8th, marking the bottom point and top point July 8th, falling still on Friday August 8th. The apex will be reached this week but breaking out can happen on anticipation of any event prior. Good luck longs!
You are a classic example of how not to speculate. Charts lie and wedges and slopes are meaningless
with either a debt to equity or BK situation. One must utilize fundamentals and charts when attempting
to make money in the stock market.