Technical analysis by yan2_aguilar about Symbol PENDLE: Sell recommendation (1/30/2024)

A rising wedge consists of two trendlines that are slanting upwards, forming a converging pattern. The upper trendline (resistance line) connects the higher highs, and the lower trendline (support line) connects the higher lows. Despite the rising price trend, the formation of a rising wedge suggests weakening momentum. Traders interpret the pattern as a potential reversal signal, indicating that the bullish trend may be losing strength. Wait for the breakout. Good Luck Traders