Parabolic ArcVIAC has passed the .5 and .618 fib levels like a falling knife.
I heard there is news associated with the decline, but I do not think VIAC was destined for a $200 price tag either?? Arcs may go up for a long time before falling back to earth.
Arcs are long term patterns and can be volatile until they find a resting place. As a rule, they do not "zoom" up like they did on the first go around either. But every security is different.
No recommendation
Parabolic Arc chart patterns are generated when steep rise in prices are caused by irrational buying and intense speculation. The arc can be volatile in the exhaustion stages. Irrational buying in the public generates a strong rally to push prices vertically, followed by a steep sell off. Parabolic arc is a reversal pattern and has a very predictable outcome. Although they are predictable, they are relatively difficult to trade since the market sentiment is bullish and may be relatively tough to point reversals to trade. I stay away until the calm after the storm is over, but we are all different.
Most arc patterns in a strong security fall 50 to 79%, many fall more and some fall less. The average is between 50 to 62%.
Oversold on RSI.
You can often see an arc more clearly on the 3 year weekly time frame. It does look as if a bottom may trying to form. Time will tell.