A clean Bearish Flag often precedes a big move. Validate your entry.
Bearish continuation if preceding move was down.
Gradual reversal from bearish to bullish.
A clear signal has emerged for Erie Indemnity (ERIE) on the daily chart. The stock is trading at $221.14, down 0.23% on the day. Price action has carved out a classic Bearish Flag. This setup is supported by strong volume turnover. A potential breakout level is identified at $204.63, targeting $147.01 with support near $234.39 (R:R 1.94).
What is your outlook on ERIE?