ir-rizzle

$WORK updated analysis. Confluence at $40 post election.

Long
NYSE:WORK   SLACK TECHNOLOGIES INC
EW analysis shows that $work is working on a a wave 3 sub formation (yellow) within a larger wave 3 impulsive structure (white) that started back in march. Its hit the technical levels perfectly. The algos are in play!

On a shorter time frame, the Andrews Pitchfork shows a beautiful bounce off the bottom of the channel, with and 80% chance the price will approach the median of ~$35. A dip is likely to occur here, followed by a continuation to $40 over the next few weeks to complete the wave 3 sub-formation (yellow)

Market volatility around the US election will likely keep the price movement small. Im expecting a large move upwards by mid Nov, as election chaos settles down and markets have a more firm view of what to expect in the future.

The stochastic RSI is oversold, but will likely stay at these levels for another week or two (just like the last time it was in that zone) as the election uncertainty passes.

I expect great things from $WORK in the new year.

ps: this model is invalidated if price falls below $24

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