As the tech rally pulls back, expect an 886 retrace from blox

Id be a buyer down at those levels. I do think there's a coinflip chance we get it. so not shorting, but waiting in cash.

Nota

Almost there. Reply guys in comments in pure disbelief.

Nota

My bid is at 27.95

It is only a small one for now. I would like to see market structure before going big.

Its possible we test a double bottom.

If it stops at 27.95 we would be in a 3 rising valley situation, would be cool.

Nota

It is entirely possible we do not even reach my target, and that people consider this triangle support.

I would miss out, but thats alright. 100000 other stocks out there.

Nota

I have re-assesed this.

We are either a gartley (bottom is in.)

or a crab (bottom is a ways to go.)

Nota

One would expect a reaction right now, if it is a gartley, then if we are lucky enough, a type 2 return back to the PCZ where you enter the stock.

So for now, no action, unless you want to risk longing an unconfirmed type 1 PCZ

Nota

Ill just be honest, that does not look like a very reassuring close.

I think 12-14 dollars is a real possibility here.

Nota

We are extremely oversold on the RSI. At the very least I think we take a break and go sideways...

Maybe a bounce occurs... wouldnt think much of it though, still targeting lower.

I am willing to change my mind on how low, if we were to build a reasonable structure which shows we are reversing...

Nota

Updated cause it looks like a backetest failure to re-enter range... lower still i really think.

Nota

Today should bring more calrity to direction.

Ill give the benifit of the doubt that this prior low could be held as support now, as the rsi seems to be showing a bullish divergence, if this bounces.

Nota

we do have a bounce, but I remain unconvinced. i think lower still.

The DXY is trending up with no end in sight. yields rising which is awful for blox...

Nota

Looking more and more like that was the bottom... My mistake.

however, it is still significantly lower than where we avoided the company...

I will monitor it for an entry and post it if I see one... for now I bought UNITY as my gaming play, and that ship has not already sailed.

MikeMM

Penafian

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MikeMM