Classic Wyckoff #Shop $Shop

Dec 1, 2020

Notice the textbook Wyckoff distribution, accompanied by according volume. The latest down moves come with big red volume(indicative of smart money legging it) and the recent rally is on very low green volume(poor effort). This market seems to be going up on a foundation of sand, and I expect rejection somewhere near the upper key levels(marked with lines). Look for Shakeout patterns through and back below these levels on the daily and weekly charts and plan for a reversal, maybe even another shooting star candle will appear. Ultimately this stock is probably doomed to the $500's in the next year or so. This is not financial advice, merely my punting opinion.