Bad Apple: Paths at ER of 0.62 Fibo Retrace; DeadCatBounce?
Chart says all. Not advice. Not a prediction. Just see a very expensive stock of company selling overpriced gadgets trading right at 0.62 Fibo after massive selloff bounce.
Might be fakebreak after first rejection from the TL shown price edged up over the TL. If breakdown below, expect retest of TL then ultimate rejection.
If ER miss, going straight off. If beats, then maybe an A-B-C leading to secondary correction- 'sell the news.' Really risky to be long at $200 if this dog won't hunt. GLTA
PS Credit to HH for idea on ER levels- right back where it got in trouble the last time. Smart money going into T-bills.
Might be fakebreak after first rejection from the TL shown price edged up over the TL. If breakdown below, expect retest of TL then ultimate rejection.
If ER miss, going straight off. If beats, then maybe an A-B-C leading to secondary correction- 'sell the news.' Really risky to be long at $200 if this dog won't hunt. GLTA
PS Credit to HH for idea on ER levels- right back where it got in trouble the last time. Smart money going into T-bills.
Trade active:
Closing in on the 0.62 Fibo. Could mark turn point for US equities overall...
Comment:
$213.64 is at 0.786 Fibo. I think it will hit that target, meltup blowoff could even tag 1:1, but I wouldn't bet on it...
Comment:
Tagged the Fibo, got a little retrace of pullback today, can it double tag here?
Clearly trading just at resistance, under the consolidation zone from last ATH.
Clearly trading just at resistance, under the consolidation zone from last ATH.
