Nano having previously rumbled the support area has 2 more distinct areas with plenty of fib confluence.
From bottom to top 0.382 and 0.5 find the two support areas.
Then the 3 recent pivots from the top shows ABC - C wave target in similar areas for 1:0.618 and 1:1.
...
First price target for 1:0.618 ABC @ $4.9 -$4.43
Second price target for 1:1 ABC @ $3.2 - $2.8.
I will be buying in these areas.
Not advice.
From bottom to top 0.382 and 0.5 find the two support areas.
Then the 3 recent pivots from the top shows ABC - C wave target in similar areas for 1:0.618 and 1:1.
...
First price target for 1:0.618 ABC @ $4.9 -$4.43
Second price target for 1:1 ABC @ $3.2 - $2.8.
I will be buying in these areas.
Not advice.
Nota
Price in a tightening descending channel making contact with previously rumbled support area.A lot of buying pressure in this support area will have been exhausted from the previous bounce.
From here price will probably either -
- Break to the downside
- Have a bounce to a regressive fib, probably 0.382 or 0.5 before continuing down lower.
Nota
Outcome:- Have a bounce to a regressive fib, probably 0.382 or 0.5 before continuing down lower.
Price has broken through support. Earnings is coming up, but I wouldn't touch this after a impulsive support break. It could have a bounce on earnings but ultimately support is twice broken and very good chance lower prices are coming.
Nota
Price has tested and had a first rejection from support turned resistance. It could hang around, but good chance price will be heading down again soon enough.Nota
Activity and multiple fakeouts testing the support / resistance horizontal. After an extended fakeout to around $6.85 price has collapsed back to support and probably revealing where the trend is.This support has had a lot of testing now and this is building cause to the downside. I'm expecting a big drop soon enough and then some of the comments on this page may be humourous.
Nota
There may be a small pop through the 50Dma, but a rip to the downside is coming soon enough. Too much touchy feely with support. Liquidity has been tapped.Nota
Any questions?Nota
1st target hit but I think there could be quite a way to go till the bottom yet. Things are starting to turn bearish across the board.Nota
Now sub $3 - getting smashed 🔨 Nota
Long way to go still and quite funny comments.
Your FA guru can't read a chart💭
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Your FA guru can't read a chart💭
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
I run a technical group with lots of content every day + regular videos, 1:1, chatroom 🚀.
Better than all the rest? My record speaks for itself 💡.
Telegram Group: $50 per month✨.
Contact: t.me/dRends35
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.