$WISH is complete horse shit of a company but the wedge cannot be ignored. Very excellent divergence at the lows here. It will need to break out, backtest, then go: target is the orange box. On all of these wedges, some will move faster than others, and I have no idea which ones. Some will leap out, others will step out, dribble sideways, then go.
[UPDATE]: Like $SKLZ noted here, this stock, in the same pattern, has failed to produce a rally as I expected and has fallen ~20% since I called for it to rally. I will file this call under “Unsuccessful Calls.”
That said, I believe it will experience a large counter-trend rally at some point. I believe the wedge is simply enlarging. I will monitor the structure in an effort to look for a better opportunity to play for a big bounce, but I make no call at this time now.
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