NUS put in a legal breakout from a bottoming megaphone today.
But on the daily chart, there’s a confirmed larger bottoming megaphone, and the breakout only made it back to this larger megaphone’s VWAP.
Price would Usually Reverse Here Back to the Formation Bottom
Odds are good that the smaller megaphone was a false bottom, and that NUS will be reversing here for a trip to the larger megaphone’s bottom.