2GO potentially forming a bearish pattern
2GO Group, Inc.
2GO is potentially forming a Descending Triangle pattern which is normally considered as a bearish chart pattern that indicate distribution. It may also be considered as a reversal pattern at the end of the recent uptrend.
However, if the consolidation continues and the sideways price action goes beyond the triangle apex without significant breakout or breakdown, it will likely invalidate the pattern.
Trading Plan
- Avoid for now and observe the price action in the coming days.
2GO is potentially forming a Descending Triangle pattern which is normally considered as a bearish chart pattern that indicate distribution. It may also be considered as a reversal pattern at the end of the recent uptrend.
However, if the consolidation continues and the sideways price action goes beyond the triangle apex without significant breakout or breakdown, it will likely invalidate the pattern.
Trading Plan
- Avoid for now and observe the price action in the coming days.
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