I dont do waves much. Here is what i came up with.
Here is my main. Ill buid a new one next.
Dont ask how I got here. But there they are.
Not an easy read but I say lower and then higher and fills wedge
Chart is really interesting.
Brutal stock to short but now we have something to work with as far as pattern.
1/2 position from 14.80 short still. Took half off at a buck. Trim and trail.
Chart also from 2 months ago. Interesting how its playing out. Note area to next time fib.
Interesting candle on monthly. Something to watch.
SPY update from 2 weeks ago. overhead TL confirmed as resistance and support yet to confirm at 149.24.
Failed pitchfork breakout. One to watch.
update on chart to show overhead levels of resistance and current channel.
We were just hitting 247.57 when I drew this chart. Pretty cool little trick i found. Inside fibs work.
Next target 24.17. Would trim and trail. MACD is rich.
Stock should let us know direction in next few days. Its getting pinned nice.
Note macd and stoch setup with price action at the same level as before. above 20.28 looks ok to accumulate. Fib stops at 17.82. Fib targets 22.28 and 24.17 26.74. Dip buying to fib stops may be a good idea if flag fails.
Cost avg at 21 right now. Will take loss under 20 area and wait for re-entry into pitchfork or the 15 level.
Entry 30.75 stop (mental)at the 30 level. 1/3 entry at a time. 100 shares.
