simbha

Bullish Gartley and Fibonacci readings.

NASDAQ:MLNX   MELLANOX TECHNOLOGIES LTD - ORDINARY SHARES
76 0 1
Couple of patterns:

First retracement of AB to 61.8 was decent for bullish continuity but was not held there. Thought initially it is kinda ABC wave up but failed.

MLNX             recent drop on a accounting material weakness (600K USD for charities, what a duh!), the stock was dropped to a Gartley retracement of 0.787 of XA.

A friend of mine pointed to Diamond pattern whic is in RED lines, which is more likely bullish based on the tilts.

Also marked are Fibonacci timezones. We allready got the CD leg for the Nov-17 week ending(Line 3 in red). Gotto see whether we get a real diamond pattern breakout and targets by the first week of Dec.....

Nothing much to note on oscillators MACD & RSI . No interesting pattern but for downside now.

Feel free to comment.

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