Previous bull runs with 50.0% - 61.8% retracements each time.
Stock is still overvalued.
RSI on weekly and monthly confirm this.
50 SMA is still above 200 SMA, and better retracement will be healthy for a stronger bull run continuation.
Buying Zone: $35.50 - $40.65.
Key Levels and points of interest.
Wave 2 completion at 50%-61.8% retracement. This would place Wave 3 around a target range of $85 or higher.
$55-$57 range is around 45% increase from Wave 2 retracement. This happened during the second run and form a H&S pattern. We want our next run up to pass this $55-57 level.
This isn't intended for financial advice, merely personal analysis.
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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.
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.