DNA Ginkgo Bioworks Looking to complete EW bearish sequenceDNA had massive bearish selloff and is trading at very low price just above HKEX:1 area. Between current lows and ATH, we can anticipate a decent rally before resuming a larger move lower (if that would happen in future). At these lows its great price range to accumulate and build a position using risk management and DCA strategy. It's been trading back it forth between $1.15-1.40; approx 15-20% difference in gains. You can try trade it back it forth with focus on taking some profits to create a lower cost position and then using those profits to buy more shares. If you want to really play safe, aim to sell 50% at 2x (or 3x) and hold the remaining 50% balance of your DNA portfolio 100% risk free for life (e.i Buy 1000 shares at $1.20 to Sell 500 shares (50%) at $2.40). Just some strategies worth looking into.
As for the current wave count, favoring DNA to be possible ending its 5th and final wave down. Market-wide, things seem risky and tough to support the idea any assets would pump while indices dump. However many times, smaller cap assets tend to get some nice pumps, not always but often. Its a matter of risk to reward while applying a safe risk management strategy. Our goal is profits, small chucks along the way. SO the target zone here is within the pink lines (wave V ending calculation) of $1.26-$0.96 area with the fib extension calculation showing the 1.618 at $0.82 area. I dont see it going much lower than HKEX:1 at these lows, maybe after a rally but not here. I can be wrong too.
We shall see how it plays outs.
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