About me2 Corinthians 4:18
While we look not at the things which are seen, but at the things which are not seen: for the things which are seen are temporal; but the things which are not seen are eternal.
Previous analysis was wrong (linked).
Trying to follow @holeyprofit's analysis, targeting 560+, but currently there is a bearish gartley happening here.
So... Looking for a hold around the .618 (440) and then breakout past the .786 (465) and on to the target.
Notice the large bullish volume yesterday and today. So there's still some upside potential here.
Not happy I did not take profits on the fake rally 2 days ago, very low volume.
Now that this stock has fallen, trying to learn my lesson: This was a 3 drives and the fall was down to precisely the line from peak #1 through bottom #2. Almost spooky how that happened.
Now drawing fibs and I'm hoping it returns to fill the gap, to 69, back where the 1 hour VP says...
Sure looks like a Gartley. We'll see what happens tomorrow. Also did you notice how flat the price has been for the last 2 days straight? Perhaps some pinning going on?
If this harmonic fails, the rally is over.
Again I learned how bad I am at this. Missed the "wholesale" price @ 115. Essentially this was forming a base around 120.
Now basically looking for this stock to break ATH decisively (128), retrace and hold there, and then go long.
I'm new to this game, despite having been in the market for 20+ years.
This flag looks bullish to me, but it could go either way I think.
Setting an alert, but not a stop, @ 115. Depending on what happens I will probably try to get out if it goes below that. Learning to not get stopped out by MM's who are trying to take my money. But don't want to lose capital either.
Unfortunately the bull case failed (support at 180) as bad news out of China is sending this stock to new 52-week lows in HK.
So it will be a bit harder to get this train back on the tracks. This is one way. (Not even close to financial advice)
Looking for "supply zone" in the 170-180 range. 170 is rock bottom covid crash March 2020, and has some fib...
Calling the top again. Like a true bear, I plan on calling the top 3 more times and then I'll be right and say "I told you so".
Just kidding, a market crash would be painful, but healthy in the long run.
"So now faith, hope, and love abide, these three; but the greatest of these is love." - 1 Corinthians 13:13
I had to research what exactly the .886 is. It's the square root of .786, which itself is the square root of .618, which is the reciprocal of the golden ratio, 1/phi.
The lot is cast into the lap; but the whole disposing thereof is of the LORD. - Proverbs 16:33
The heavens declare the glory of God; and the firmament sheweth his handywork. - Psalm...
I've been following this stock way too much. Great fundamentals, growth, leadership, they are buying back stock... but somehow they've broken the $25 support (maybe they ran out of money to buy back?). At least it looks like that to me. No matter how I slice it I'm having trouble making a bullish case in the short term. However I'm still targeting $28 in the near...