IFF is showing signs of a potential continuation in its downward

IFF is showing signs of a potential continuation in its downward movement. After a significant drop, the stock has entered a consolidation phase and is forming a bearish continuation pattern known as a bear pennant or symmetrical triangle.

If the price breaks below the blue dotted line, it would trigger a short position, signaling a potential further decline. Stop loss would be at the top of the pattern.

Both the relative strength index (RSI) and the moving average convergence divergence (MACD) are indicating the possibility of further downward movement. The crossing of the support line on these two indicators may also coincide with a breakdown in price.