dzygadlo

After a steep correction - looking to the upside

Long
NASDAQ:AYRO   AYRO, Inc
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3
I ran my Fibonacci retracement and trend extension analysis and here's what I'm seeing...
After retracing almost 100%, we look like we're bouncing off the bottom and starting to crawl our way on to the next target of ~15 (Fibonacci 1.618).

I think I'll be taking some profit when we get to ~13-14 (Fibonacci 1.272/1.414) range and then close out the position when the target is reached.
I'm not a financial advisor and I'm not offering financial advice. Everyone should do their own homework before making any decisions!

Good luck and I'm always interested in what you think.

Comments

Is it still cup and handle or forming double bottom to you?
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dzygadlo greygooseorange
@greygooseorange, it's hard to say. I swapped to the weekly and from there it looks like it's still in correction mode, looking for it's bottom (it's just passed the .618). But it also looks like it's nearing the bottom - if it starts to flatten next week then maybe that will signal that we're decelerating and getting ready to bounce back up.

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@dzygadlo, thank you. Don't they also report earnings
today?
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dzygadlo greygooseorange
@greygooseorange, I think that's in a couple weeks - according to the giant E on my chart :-)
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@dzygadlo, Did you see AYRO? it crossed two MAs and bounced off. MACD looks good too.
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dzygadlo greygooseorange
@greygooseorange, Thanks for the heads up. Earnings are tonight - if this closes above the 50, then perhaps they'll be an upward push.
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@dzygadlo, looks like it closed above the 50MA.
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