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Rising wedges can be brutal, when the bottom of support is taken out! Guess Corp (GES) has been moving higher of late, getting back to a falling resistance line and forming a bearish rising wedge at the same time.
Traders didn’t guess much this morning what they wanted to do, once support broke, they sold big time. At the time of this post, GES is trading almost 20% lower on the day.
Please be aware of how Powerful the move can be, when traders break support, of a rising wedge!
