MRNA Overbought Condition with Daily Bearish Wolfe wave Setup

19 Dis 2022

There is a daily wolfe wave setup that triggered on December 15. Today at the open, MRNA opened inside day and traded +4% within 30 mins of the trading day. The projected target is calculated by extending a linear line between pivot 1 and 4 and projecting the line; however, the linear lines do not converge. The projected target is approx 167 which is represented as the red perforated line. The target price coincides with the 50 day ma as shown in the chart. Using the customizable gap finder indicator there is a larget gap left open from the Dec 12 kicker. It is likely to fill the gap within 2 weeks time.

21 Dis 2022

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Closed the position on Tuesday and the setup is now structured as a short squeeze attempt run up to 233

21 Dis 2022

Nota

Learn about short squeeze setups tradingview.com/streams/iSfRxgHVHe/