$INJ 7 is a new high. Current price: 8.404; previous high: 8.199.
After reaching a new high, price typically follows one of three patterns:
① Pulls back to the previous high without breaking below it, then makes another new high: the healthiest pattern
② Moves sideways near the previous high: trading changes hands while the market decides on a direction
③ Quickly falls below the previous high and fails to recover: a bull trap
It is still above the previous high for now. Watch to see whether it follows pattern ① or ②.
After reaching a new high, price typically follows one of three patterns:
① Pulls back to the previous high without breaking below it, then makes another new high: the healthiest pattern
② Moves sideways near the previous high: trading changes hands while the market decides on a direction
③ Quickly falls below the previous high and fails to recover: a bull trap
It is still above the previous high for now. Watch to see whether it follows pattern ① or ②.
