A DOUBLE BOTTOM: YOU MIGHT CONSIDER LOCKING IN YOUR 38% 'SII' SHORT GAINS IN GOLDCORP
INITIAL 02-27-17 CALL: GG Goldcorp Inc. IDEA
The larger weekly pattern could be forming a diamond reversal after finding support from a significant sell off. The market is potentially topping at the pattern resistance and setting up for a drop to the pattern support (daily). A drop through the current green s/r zone and 34ma on the daily frame offers trigger considerations for more potential down. IF these are broken then we can see several significant technicals on the way down to watch for support and offer technical considerations for entries, exits and stop-outs. IF however we see the market find support and lift, breaking through pattern resistance and previous highs, we could see it continue to lift and move back to previous technical levels. Solid orange lines offer trigger considerations for a break of thee pattern; dashed orange line is inside the pattern and offers one of many potential trigger considerations if the market heads back down.