dep0tyoxxx

CYBR - Correction to 70 before us ?(weekly)

Short
NASDAQ:CYBR   CYBERARK SOFTWARE LTD
In blue you see the Elliott waves of my "daily degree". (Dont know, which offical EW degree that is; it is just my daily focus of interest.) In white we see the EW on the next higher degree (called "weekly" here).
CYBR in the past oftenly retraced with earnings , but usally recocered in a few days. - This can change this time dramatically: As you you see, the last daily abc reaction formed the "a" leg of an abc of a possible weekly flat. A c with an 1,4 fib retracement of the a (which is quite common) could lead the price back to the 70s region - 40 % down from here - .
Idea: In green you see important confluence zones of the CYBR Chart. (I must warn, that due to time out problems of TV server my confluence script can only base on daily resolution as maximum; calculated weekly confluence zones may differ.) The lowest line is 4% lower than actual price. I suggest to take this border as signal for sorting or selling.

kind regards and successful trading
yoxxx

Comments

Wow! Called it perfectly...

So what happens next with this stock???
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dep0tyoxxx Crypto_Curry
@Crypto_Curry, next gain 96,72 or 99,30 within a frew days. Then retrace, wouldn't be surprised if back to nearly c.
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dep0tyoxxx dep0tyoxxx
@dep0tyoxxx, 96.72 or 99.30 sorry, in germany we make comma, where set a period.
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Crypto_Curry dep0tyoxxx
@dep0tyoxxx, Nice work. So it seems the bear market is far from over then?
+1 Reply
dep0tyoxxx Crypto_Curry
@Crypto_Curry, not really, though wave 1 often is retraced nearly completely by w2, as well in bullish times. But really do i think we are in a larger correction up till begin of August at least.
Btw: i never call any market a bear merket till know, for this too is just a correction of a bull market (as always in my view).
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