Purely chart analysis. For fundmental analysis DYOR.
I first heard about this stock thanks to TradingHub. So thank you for sharing your analysis.
In this analyisis in comparison with tradinghub I want to look at the possible big picture.
After almost 20 Years of "Wyckoff like" ranging price there was finally a break out in late 2016.
After a top on mid 2017, the stock plummet from 1000 to the value for a more than 50% devaluation.
there are some insight that tell me about a good time to buy.
In this biweekly chart we can see that the 20 years resistance around 267 dollars has been already cleared after break out and is to consider as an unbreakable level.
Actually we are at target of a perfect ABC corrective phase in gartley entry point inside a falling wedge.
In the biweekly chart we can see that price range around the 200EMA was a fundamental level since we have information about it. It acted as support, but also as relevant resistance (late 2008 leading to all time low) and downside breakout level (mid 2011). After been cleared in october 2014 was after 1 support on may 2015 the basis of the break out of the 20 years top (January 2016). This would be nice target after a relevant correction.
Geometrical I doubled the wyckoff channel in equal proportions setting the maximum target on top of the double of the first top, corresponding also to the 1.61 extension of the gartley in formation. This would be the maximal target.
BIO
I first heard about this stock thanks to TradingHub. So thank you for sharing your analysis.
In this analyisis in comparison with tradinghub I want to look at the possible big picture.
After almost 20 Years of "Wyckoff like" ranging price there was finally a break out in late 2016.
After a top on mid 2017, the stock plummet from 1000 to the value for a more than 50% devaluation.
there are some insight that tell me about a good time to buy.
In this biweekly chart we can see that the 20 years resistance around 267 dollars has been already cleared after break out and is to consider as an unbreakable level.
Actually we are at target of a perfect ABC corrective phase in gartley entry point inside a falling wedge.
In the biweekly chart we can see that price range around the 200EMA was a fundamental level since we have information about it. It acted as support, but also as relevant resistance (late 2008 leading to all time low) and downside breakout level (mid 2011). After been cleared in october 2014 was after 1 support on may 2015 the basis of the break out of the 20 years top (January 2016). This would be nice target after a relevant correction.
Geometrical I doubled the wyckoff channel in equal proportions setting the maximum target on top of the double of the first top, corresponding also to the 1.61 extension of the gartley in formation. This would be the maximal target.
BIO
