No math needed to see where this is going. However, I did look at the linear chart and yeah, its not good. This is likely going to drop below the 100s again.
On the 1 hour it kind of looks poised for a bit of a bounce, and indeed that is what I would like to see here:
But I think this would be capped at 117-120 max, if it is even able to make it that high. From there, I likely will enter this as a short position (or on really any bounce from here) and probably will play the options because they are kind of cheap on GRMN.
All in all, I am disappointed in them. I like GRMN. But it seems every company I truly believe in and like (GRMN, BA, F) have complete failure stocks, lol. Too bad I can't be one of these Elon worshiping TSLA stans because I probably would have faired better in life. I sold my GRMN holdings in January, but admittedly I only newly invested in them during the COVID crash. So pretty amazing returns, I can't complain but yeah, I would like to have seen them do better.
Not financial advice, plan your own trades, etc. etc. etc. just my thoughts.
Trade closed: target reached
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Forgot to update this. I try to remember to update my ideas when I actually close out of my trades but sometimes forget, I closed out of this at 99, my target was simply a drop below 100. I anticipate this to fall more though. I would say, without doing math, end target would be back in the 70s unfortunately :(.
Now invert that baby and post a long chart. A crowd-capable chart, lol ;)
Vibranium_Capital
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Perfect analysis
Zyramaer
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All is good if you’re short when needed and long when not ;)
Steversteves
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@Zyramaer, Haha very true, my friend, very true! And to be honest, right now, I don't wanna be long or short on anything, what mess this market is in haha.