This is an update from my previous analysis on Dec 23. I've been drawing this Gann box for a few months and I have been able to trade some of the highs and lows based on my assumption that Matic will break out into the Gann and Fibonacci extension levels on or around Jan 30th. I use Gann boxes because of its relationship to time and market geometry. Feel free to zoom out on the page and study how I drew this box. If you like triangles, wedges, and trendlines, then a full-blown Gann box has everything you are looking for. Overlapping a Fib retracement box gives even more layers of geometry. Let's see what happens.
Not financial advice. Do your own due diligence. Have fun!
Not financial advice. Do your own due diligence. Have fun!
Comment:
Tight candle today. The price spent most of the day at $2.36 which is my Fib 0.786 line. Today's candle is between the 0.786 and the 20dma according to the way I draw things. We are 17 days away from Jan 30 and only 18% below the top of my box at $2.84. I'm thinking the 50dma will intersect the 0.75 Gann line and the 200dma will intersect the 0.50 Gann line on Jan 30. Thus, the computer driven price action will bounce around these next 17 days to get the prices where they need to be. Just my opinions. Have fun.
Comment:
I expect a close of $2.286 today at 4pm PT. That would be on my 0.75 Gann horizontal. Maybe some price action between the 50dma and 0.75. Nothing to get excited about. I am paying attention to CTSI today.