SKLZ fell through last support during summer. Since then it had an upside fakout through resistance and a re-test which was rejected and now looks like price is beginning another leg down.
Also D RSI confirms this rejection with price unable to break into the upper quadrant.
Unless there is a recovery in the $10 area this should fall all the way down to $6.66. This will complete what is probably a primary ABC correction.
I won't be interested in this until price can consolidate above 50Dma.
Not advice
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Quick update just for the phonetards really. This tiny bounce is only a 0.382 retracement of the previous high. As I said I am interested in this stock if it consolidates above the 50Dma but I dont think it will here. Most likely bounces will get smaller as price drifts sideways before capitulating down.
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SKLZ getting smashed. Well on its way down and my target is only the next fibonacci area. Who knows where this stock will bottom in a real market crash. 🔨
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SKLZ freefalling. This is a very risky time to be long stocks like this.
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Target hit. Any questions? 🤔
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Have any truckers actually backed up the truck on SKLZ? Down at $1.27 now
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Do you remember when...
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I wonder how Oct 2021 "back up the truck" at $6.7 is getting on 😄.
@Users_535, Wow it got to 0.45! Idk, better stocks to buy than this waterfall chart.
Users_535
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@dRends35, Thank you, but I have an average of $ 1.4, will it get there?
dRends35
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@Users_535, Hard to tell when exactly a waterfall stops going down but there's a lot of bullish divergence, could be a pop coming.
rb6cxut2wemehw3
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great job! I have a stupid question! can you please explain how you find the $6.66 level? thank you
dRends35
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@rb6cxut2wemehw3, Thanks. The target is an assumes the most common fibonacci ratio - a 1:1 from A-C - A being the same length in log ratio as C. But it could also be a different ratio - 1.618 for example which would take price lower.