Sigma Labs Inc (SASI)

[crook717]

I posted a few days ago that the bullish wedge is breaking down. Long term view this is still holding above the trend line.

The way a wedge works (for those that don't know) is that the pps bounces within the wedge and becomes less and less volatile as it approaches the corner of the wedge. At that point stock either breaks up or down, but since it's a bullish wedge it should shoot up.

However, that didn't happen. On 8/14 (few days ago) first time we actually dipped below the wedge, (red flag) and continued to trade below the wedge since. (look at the price action below the lower pink line) Now we can reset the wedge (look at the teal line added), however that isn't a bullish wedge anymore, but rather just a wedge. Next 4-5 trading sessions, we could expect that the pps will reach the new corner of the wedge in which the price should either break up or down again. But this time, it's really is 50/50 that it goes up, while before it was probably 70/30.

Just my view, no emotions attached.

See the pic I attached below. (sorry if a bit blurry)