Here's what I see:
--Confirmation of an uptrend in the past few trading days is good news
--Upcoming downtrend confirmation or break is TBD
--Bouncing off 50ma last week as support was good news
--But dropping below this week is potentially bad news
--But if it goes back above 50ma and stays there that's good news
--Support/Demand zone between ~540 and ~580, confirmation is TBD
--This also ~aligns with the likely lower BB if price drops that low, though I don't find BB trading to be especially useful
If it breaks to the upside the first price target is 750 or so, second target is 900.
If it breaks to the downside the first price target is a little over 500 (which aligns with the next major uptrend line), second is maybe 400 or so (which would align with 200ma).
All that said, while I'm all about technicals, its hard to ignore major sociopolitical activity. Given the massive slowdown in global manufacturing and [business] travel, work-from-home mandates in many areas, and generally a wait-and-see approach to getting past CV-19, its hard for me to imagine any kind of major turn in the short term, and certainly not a turn up (if this gets worse, a turn down is definitely on the table). The best we retail traders can hope for IMHO is some kind of stabilization, weather through some shitty quarterlies, and maybe enter some hard to identify but profitable small recoveries and drops smattered about.
