Looking at this chart I think $3000 is possible that is a 25% gain. I also see parabolic movement on this chart after testing not likely passing $3000 this stock could crash 80% to $600. That would still be a 6x return since 2008. The risk reward math on this stock seems awful to me. On one side potential remaining gains are like fighting for spare change. Everyone and their dog knows about this stock and thinks it's a good idea. Sentiment appears to be in extreme greed. This reminds me of Tesla stock crash earlier this year that I also posted about. I have linked it below for your viewing pleasure as that crash has already played out.
Here is 2 historic charts.
This is a 3x drop in price or about 70% retracement
During the tech boom this much more similar chart ended in a 90% retracement
As my 80% crash concept falls in the middle of these previous two examples I am sure in 2008 people would have thought 70% was crazy but it happened. A company does not have to be a bad company to be an over priced bad investment. The best thing people can learn from crashes like these is to educate themselves.
Here is 2 historic charts.
This is a 3x drop in price or about 70% retracement
During the tech boom this much more similar chart ended in a 90% retracement
As my 80% crash concept falls in the middle of these previous two examples I am sure in 2008 people would have thought 70% was crazy but it happened. A company does not have to be a bad company to be an over priced bad investment. The best thing people can learn from crashes like these is to educate themselves.
