CBS Corp. $CBS has been in a choppy consolidation mode throughout 2019. This is within the context of a long-term bearish trend since early 2017 when price failed to push above $70. CBS eventually tagged $42 at the end of 2018. In 2019, we can see that price has been in a choppy upwards channel, or a wedge pattern. CBS Daily Chart (click to enlarge) Wedge Consolidation:- Let's saw the 2019 wedge is simply a consolidation pattern within the bearish trend since 2017.- Price has to hold above the $48-$50 area to keep the bearish outlook at bay.- In fact a hold above $50, with the RSI holding above 40 could be a bullish sign.- However, a break below $48 would likely be part of a bearish continuation scenario.- On the weekly chart, we can see that if price does continue the downtrend, we can see downside towards the $38-$40 before key support.- Also on the weekly chart, we can see that price just respected the 200-week simple moving average (SMA) as resistance, which is a bearish sign.- Furthermore, the weekly RSI also held under 60, reflecting maintenance of the prevailing bearish momentum. CBS Weekly Chart (click to enlarge)