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SlavicChartist
May 9, 2022 9:34 AM

StoneCo (STNE) following exactly: Wall street Cheat sheet  Short

StoneCo Ltd.NASDAQ

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Hello Traders / Investors

Seems like Wall st. Cheat sheet is CORRECT. Sad for me I realized it too late and missed some profits in last weeks.

Considering my DXY Elliot Wave coun, my expectation is another drop of STNE price where wave C will be 1.618 of A = Price around 5.5 USD. (Best place to buy some shares + Also watch Konvergence of RSI on 1D/1W TF).

https://ritholtz.com/wp-content/uploads/2010/06/Psychology-of-Market-Cycles.jpg


Learning every day.
Trade safe, take care and enjoy the ride.

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uglyazzcreepervibes
would this move up be a double bottom?
SlavicChartist
@alyssaluv, It could be ... but considering possible recession coming = Technology growth stocks could be plummented even more than now. So I recommend to enter only for a short period of time to take quick profit of few tens of %%. Look for RSI konvergencies (4H and 1D TimeFrame).

But it could be good stock if you are willing to hold at least for 2-5 years.
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