Stock Watch for October 10, 2019


X has been on a slow constant decline for almost 2 years now with several setups on its way south. By the looks of the 2-year chart posted above, it could continue to head that way given the possible descending triangle forming. In fact, the stocks might already have broken down from the said chart pattern today. However, since the price is close to the 10.00 psychological level we could see the stocks hover up and down around that area  before it continues its descent. In any case the 10.00 marker gets completely cleared out, the next downside target could be 9.50 then 9.00 after. On the flip side, if X decides to rebound the immediate resistance could be 10.50 then 11.00 after.