I am new to this, but I really enjoy it and would love any feedback. This is not financial advice.
This analysis is based on the Elliott Wave Theory. I think you will see one more major move up before watching it fall to the ground like a dead cat. This is based on the 5-3 theory and considering that this is a psychological play more than a fundamental play it would make sense to have one more major continuation before she falls through the floor.
Note
Everything seems to be continuing as predicted so far. We had a bounce off of the suspected trend line and a continuation on to the 3rd Elliot wave. If it continues on its "New high trend" then I think we might see numbers as high as $30.
Note
There was a break in the trend line. This is no longer valid and I think the play could be over. I am not an expert and this is not financial advice
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.