while the majority of us stocks are going down due to a profit taking phase , nasdaq seems to have reached it's maximum before a possible upcoming correction in the market.
NASDAQ has finished it's 5th wave of eliott waves.
NEXT OBJECTIVE: 16000 $
OBJECTIVE 2 : 15700 $
ETHEREUM is giving bullish signals aftrer it's last crash that i have predicted earlier in one of my posts in trading view
technical analysis :
-strong key level being tested
-golden zone at the fibo retracement
-double bottom configuration
here is the scenario that is most likely to happend , shiba has been into a deep correction after it's last peak , as the chart shows a triangle correctional wave ,there is a high chance that shiba is going up.
nothing is confirmed yet , so we need confirmation for a new bull run
A great stock with great chart
wait for the stock to reach the yellow support zone (supported with moving average + key zone in daily )
aapl is in the B phase in a correctional wave ,next movement is the C one that is expected to be the impulsive wave .
TESLA STOCK PRICE has crashed after elon musk has announced that he would sell 10% of his tesla shares , tsla stock reached 1000$ level with a strong potential of reaching 900 $ level
the chart shows a correctional wave after the strong bearish movement , and this could be a great position to short tsla stock
today 10/21/2021 IBM's Results has been published less than the consensus and this made an impulsive bearish movement down to the historical zone mentioned in red color in the graphic , not only that , but also the 360 MA overlapped the zone and reacted as a support for the price
Technical analysis: the price has reached a historical resistance , with a bearish divergence signal on the RSI indicator , this could lead to a re-test of the yellow zone located between 580$ - 560$
Fundamental analysis : NETFLIX'S PE ratio is relatively high compared to tech industry with respectively 65 for netflix and 25 for average tech industry's PE ratio...
after facebook's mini crash ,the stock price rebounded on a long term trendline and a 360 simple moving average , the stock price has a PE ratio of 25 which is the average of all TECH sector
in overall fundamentally and technically this could be a good opportunity to buy facebook's stock