W is at the perfect short point; I hope you can see that from the technical analysis in my chart. Along with the fundamental problems in both the overall economy and the business model of W, W faces too much technical resistance. In a very unlikely scenario, it may go up to 95, at most. In the most likely scenario, it goes up to ~85. It is currently at 81, which is either the peak or very close to it. After, it will fall to the closest support, which is ~57.
At most, this should happen within 2-3 weeks. However, the way the markets have been moving, it may take just a week.
Share your thoughts below :)
Note
As I had said, it was most likely it would go to around the 85 range and get rejected, which it did for the whole week, but today it successfully went over. This is still not surprising as it was part of the initial model. You can expect it to reach ~95 (I personally think precisely 92) and then fall very rapidly.
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Disclaimer
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.