Rykin_Capital

Smith and Wesson Brands due for a local correction. SWBI.

Short
NASDAQ:SWBI   Smith & Wesson Brands, Inc
A huge impulse if forming. It literally shot off for this gun manufacturer, and we are not done yet in the general scheme of things - just that we are foreseeing a local correction.

This is a reflection using technical analysis + only and we do not consider valuation and macro factors at this stage.

The Fibonacci targets going down are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!
Trade closed: target reached: All targets reached 22nd July, 2021

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