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Double bottom (red arrows) or not, wait and see. I think bulls have chances.
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Consolidation, breakdown is more likely which if indeed then it's an early sign of a downtrend day.
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SM Energy Company, an independent energy company, engages in the acquisition, exploration, development, and production of oil, gas, and natural gas liquids in the United States. The company holds working interests in oil and gas producing wells in the Midland Basin, South Texas, Uinta Basin, and DJ Basin. The company was formerly known as St. Mary Land & Exploration Company and changed its name to SM Energy Company in May 2010. SM Energy Company was founded in 1908 and is headquartered in Denver, Colorado. -- StockCharts
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Not sure whether the low was in or not as I see kind of head and shoulders bottom (green arrows).
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What was support is now resistance. Will they bang the close, will a trap door open or will we just fade away? Weekend news flow is going to be important.
Possible exhaustion bar, so a rebound might be due here after which we'll see, generally should be another leg down.
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