Stock Chart of the Week - 9/19/22 to 9/23/22
Last week, $SPY $QQQ, and $IWM all posted bearish engulfing candles. With that being said, the outlook for the short term is not favorable for bulls in my humble opinion. There has not seemed to be any true capitulation yet that will likely mark a bottom.
This week's Stock Chart of the Week is $EYE. National Visions Holdings, Inc. has a very suspect looking weekly chart as price makes its first retest of a key level in confluence with the 34/55EMA range where price has had decision points in the past. This selling came on slightly increased volume. With this tight bear flag channel, the target would likely be new lows from here which would result in about a -33% loss from the current price.
Want to see Kess and I go over 5 of our favorite stock charts heading into next week? Check it out here!
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