Thank you, Randy!

Both certainly have the potential to but then again, there is usually at least one or more releases on the economic calendar every week that does. Best to stick to the charts & not try and navigate trading around every potential market-moving report IMO.

With that being said, I believe it is prudent to be aware of the economic calendar as to manage position sizing & risk exposure heading into the big potentially market moving releases. (e.g.- don’t go too heavy long or short into a FOMC rate decision or inflation or jobs report)

I agree with your trendline draw & also agree that it is objective to go long a stock on a pullback to key support, such as that primary uptrend line & the 200-day EMA (and/or 200-day SMA).

With that being said, IAK had large negative divergences on the most recent high, comparable to the divergences in place at the highs before the stock plunged 47% in 2020. Many (most) will simply chalk that drop up to COVID but the charts are the charts & that bear market, like most, was clearly telegraphed in advance from the large negative divergence on the weekly chart.

As such, while a case to go long with stops somewhat below the TL & 200-MAs can certainly be made, I’d view it as trying to pick up nickles in front of a steam roller but even a final hurrah off that trendline can be quite lucrative as a swing trade so just make sure to use stops & not get married to the trade if you take it. Here’s my weekly chart with long-term downside targets once that TL & the 200’s clearly go.