History tells us that price trading below the 50WMO usually indicates that we are in a bear market. Based on previous time cycles, we are due for a more sustained correction into the four-year cycle low.
Avalanche breaks inverted H&S neckline. Chart pattern continuation gives a first target area of $88.00, & in continuation a second target area of $100.00 which the 1.618 Fibonacci ratio.
A large cup & handle has formed on the weekly time frame. The pattern has a target of $6150, which is also in the vicinity of the 1.618 Fibonacci ratio take from the May 15th high.