Dear Traders,
Last time I posted on SPCE, I mentioned that the price is going through a correction following Elliot 4th wave and today we can see we have hit the bottom of wave with a strong price rejection at 38.40 near 50 MA. This could be a confirmation that we are at the bottom of the wave and should start wave 5 tomorrow but we might get even closer to 50MA before we go back up. As you may know, if we touch 35.40, then this is not an Elliot wave and this predication shall be dismissed. However, if we reverse this downward trend before hitting the redline, the 5th wave should start to form and we should see 70 around late March.
Of course, market does whatever it likes and these prediction might not mean anything but should give us a clue while we keep an eye out for SPCE price action. Also this is not a financial advice and I'm not a financial expert.
If you enjoy this analysis please give me a thumbs up and leave a comment. This will motivate me to keep going!
Thank you
AH
Last time I posted on SPCE, I mentioned that the price is going through a correction following Elliot 4th wave and today we can see we have hit the bottom of wave with a strong price rejection at 38.40 near 50 MA. This could be a confirmation that we are at the bottom of the wave and should start wave 5 tomorrow but we might get even closer to 50MA before we go back up. As you may know, if we touch 35.40, then this is not an Elliot wave and this predication shall be dismissed. However, if we reverse this downward trend before hitting the redline, the 5th wave should start to form and we should see 70 around late March.
Of course, market does whatever it likes and these prediction might not mean anything but should give us a clue while we keep an eye out for SPCE price action. Also this is not a financial advice and I'm not a financial expert.
If you enjoy this analysis please give me a thumbs up and leave a comment. This will motivate me to keep going!
Thank you
AH
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