The $PRPL Triangle Has Become a Wedge (and Target)

The descending triangle on $PRPL first identified in this tweet has made a lower low, transforming it into a bullish wedge, much like what appears on so many other momentum stocks. Here is a target for when it finally gets a good bounce:

PRPL


[UPDATE]: There are a variety of momentum stocks for which I have lost confidence i their various wedges, and this is one of them. I am cancelling this call. I will need to monitor the price action from here prior to making a new call.

PRPL

 

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