Since there is a limited chart history of SNX the most we can look at is 1/2 a year of ROI, which it looks like we recently bottomed out on and if we continue to current pattern we should move back up. The weekly and monthly ROIs also look to be bottomed out and about to retract their old patterns. In my opinion we are starting to flatten out after the last retracement, will likely enter the next major move around $19 on the 30th or so. Either we enter a strangely bearish scenario despite the rest of the market being very bullish and our monthly returns plummet lower then they have been so far, or more likely, we enter a bullish impulse scenario up to around $60 is my thoughts which seems to be inline with other TA that has been performed recently on SNX.
Took some at $17. Tried for $16.25 and missed (sadly). I am riding with you on this and thank you for the work you put into it.
burgercrisis
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@rshowers, I've been riding SNX for a minute on and off. My last buy was high but I have high hopes so I've been analyzing primarily as a precaution in case I need to be scared haha. But a part of me knows it could happen any time so I've maintained my position. SNX will outperform expectations eventually, just need to be patient with it
rshowers
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@burgercrisis, I am newer to crypto so there’s that.... but the chart looks like a thousand nice consolidation-phase stocks I’ve owned with a high percentage of success, with a very similar pattern. Crypto nuance is not in my wheelhouse yet, but de-fi is a story I can embrace and that is how I am rolling. Again.....super appreciate your work and I’ll keep following.
burgercrisis
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@rshowers, I am actually new to trading in general tbh. I started when I started my Tradingview account, went on trial, bought it half off to continue learning. Thanks. Giving me confidence. A chart is a chart imo, crypto or stock. In fact I fully believe that charting techs can be used on any chart of any statistics regardless of what the stats are. For instance, I believe if we had the same level of information on global warming as we do stocks, one could chart it and use RSIs and patterns to predict where we are headed with similar accuracy to what people here do. There are better scientific models for this of course but I do believe "a chart is a chart".