Regression to the mean is what we are seeing wit GSAT. This one shows no evidence of pivoting or impulsing upwards once again. That last impulse was stellar, however.
This is a reflection using technical analysis + only and we do not consider valuation and macro factors at this stage.
The Fibonacci targets going down are highlighted in purples with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
This is a reflection using technical analysis + only and we do not consider valuation and macro factors at this stage.
The Fibonacci targets going down are highlighted in purples with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: stop reached