Earnings 2-1 AMCThis particular stock analysis has been in the back of my head bugging me for a while.
I decided to look at it again and remembered it was in a rectangle a while back and broke to the downside. So I still had those targets on an old chart.
Then I tried to apply fib levels today and found it very difficult to stretch the fib table from the beginning of the impulse wave (white line to far left) from the bottom all the way up to the top, which is usually not such a stretch! Now that I look at it on weekly and monthly, I do think a big part of that impulse wave up was a parabolic arc as it is very steep.
Not an unusual finding as there were many ARCs formed in the last 2 years. Most ARCs fall between the .618 and the .786 fib levels on the fall back to earth. An arc can fall less or more than these levels. PYPL is between those 2 levels right now. It has already passed the .618. Parabolic arcs can be volatile for quite a while after falling and are caused by extreme bullishness. First this one needs to find a place to rest.
Earnings are very soon so not the best time for me to figure this out for myself, as I do like this stock. I will wait and see what earnings bring.
No recommendation.
Only those who are asleep make no mistakes )o:
