STX Technical Analysis: Will STX Bulls Finally End This Correction?

The STX Technical Analysis displays a falling trend within a bearish channel, leading the market value to the $0.22 mark. The STX price action shows a bearish breakout of the $0.45 mark resulting in a falling wedge pattern and a drop to the $0.33 mark. The recent bull cycle starting with the bearish pattern teases a bullish breakout, but the lack of trading volume doubts the buyer’s interest. So should you be interested in a bullish reversal or wait for a selling opportunity? Key Points: The Stacks prices show a bull cycle heating up at the support trendline. The bull run can result in a bullish breakout. The intraday trading volume in Stacks is $12.3 million. Source – TradingView STX Technical Analysis As mentioned in our previous analysis, the STX price shows the $0.45 breakout resulting in a price drop to the $0.32 mark. Currently, the downtrend accounts for a price drop of 28% within a month and forms a falling wedge pattern. The STX price action displays the bullish reversal for the falling wedge’s support trendline, teasing the potential bullish breakout. Generally, this bearish pattern gives an upside breakout, but the lack of bullish support in the intraday trading volume questions the general trend. With a growth of 4.11%, the daily candle shows a bullish reversal from the support trendline, starting a bull run that may test the overhead resistance trendline shortly. Therefore, short-term traders can expect a short-te...