Pepe Special: FEMFFOTC:FEMFF is currently in a falling wedge and looking to be great. Too many people FOMO'd into that first spike through the supply line and the CO was not having it...
But really it needed to fill this gap before the big pamp.
Gap filled.... show time.
So what kind of target can we expect?
A run up to the 0.618 fib extension would be a pretty common retracement for a successful falling wedge breakout.
A near 130% increase from its current price.
For a different look, here are some historical levels (this chart is kinda fonky, so I zoomed out to the 3M chart to get some decent S/R based on candle closes)
That long wick at the top of wedge shows we have an imbalance... and what do we know about imbalances?
....they often get revisited.
Does it have to. NO. But it wouldn't be weird.
Here's one more look with the fib extension overlaid
The historical levels make sense and line up pretty nicely.
A break of the 0.41 level would likely lead to run up to the 0.79 level and could very well give us that 0.786 fib extension.
Pump it.
