$ESTC - RC -
Added 2023-08-12 10:50:15 +0000 UTCWe can see that this is in a strict descending wedge, price needs to work its way through this wedge and when it is ready to break out it will, descending wedges do tend to break out to the upside when they are complete so it may take a number of months but as long as it holds the bottom trend line in the wedge, it is safe.
The blue line needs to be held to save this from entering the bear case.
