Shares of Sea Ltd (SE) are likely putting in a major long-term pivot high, a strong sell signal. This comes from the recognition of the Sea Ltd stock chart-topping tail that has formed on the weekly chart. Daily topping tails are significant but weekly topping tails are far more powerful.
The general concept is, the bigger the time frame, the more important and powerful. Based on the Sea Ltd stock chart-topping tail, expect a pullback over the next 6-12 months to $107.00. This would be an approximately 50% drop from its all-time high hit just a few days ago.
(Click on image to enlarge)
Comments
Log in or sign up to join the conversation.