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A year ago today the Power of the Pattern shared that an Eiffel tower pattern had formed in DDD and support was breaking. (See post here) This pattern and support break was not a good sign for this one time darling of Wall Street!
Eiffel Tower patterns can really put the screws to an asset. When they form and support breaks assets often decline back to the base of where the pattern started!
Even though a year ago DDD had already been soft for a while, its lost 50% more in the past 12-months.
If a person still owns DDD, best hope that the potential shelf of support holds in this zone or it could get even uglier on the downside.
Was this a crowded trade a little bit over a year ago? I will let you be the judge of that!
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