A new low over $INTCB 24 hours; current price: 98.46, previous low: 99.36.
After a new low, price usually takes one of three paths:
① It rebounds to the previous low, then gets pushed back down: weakness continues
② It moves back and forth around the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
It’s still below the previous low for now. Watch to see whether it follows scenario ① or ②.
After a new low, price usually takes one of three paths:
① It rebounds to the previous low, then gets pushed back down: weakness continues
② It moves back and forth around the previous low: consolidation while waiting for direction
③ It quickly recovers the previous low and holds above it: a false breakdown
It’s still below the previous low for now. Watch to see whether it follows scenario ① or ②.