Fib retracements seem to be a good indicator of what DWAC is doing. Currently, it looks like it will retrace to about $84 based on where we are today. Of course, it will eventually fail to follow the retracement pattern, but so far it has not. So I am going to hold, watch, and wait before taking any profits.
I'm still pretty new at technical analysis, so I am curious if others agree or disagree. From my understanding of fib retracements, they tend to hold about 60% of the time. You can see my last two on this chart, and the last one held. If the current one holds, we should hit $80+.
or breaking over $65 was just another trap for the ever faithful and $45 will be seen before $85. Im long the stock and the warrants but took profits at $69.50 and 73
jrothlander
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@andersonfunding, It's almost at $84. I'm considering taking profits and letting it drop before getting back in. I always lose when I do that, but being pretty new to technical analysis, I expect a lot of stupid mistakes and learning events along the way.