$NAKD completing final corrective waves on Elliott WaveNASDAQ:NAKD
Hello everyone!
Been awhile since I've laid out some solid technical analysis. I've been looking at NAKD lately and pulling some small but successfull short swings on its volatility lately. After those few successful swings, I decided to try to take a more in depth look at the trends, while practicing application of Elliott Wave Theory.
I'm thinking we're swimming the in the zone for what could possibly be a great short opportunity. Laying out the final target was a little difficult, I'm considering either a target of 0.53cents or even as low as 0.37cents. I'll likely start slowly closing the position around 0.55cents and keep a watchful eye on how it plays around those levels, as if it continues downward I'll continue closing the position for a profit.
Hoping this plays out close to these targets. If this plays out I believe closing at those levels would then give us a great opportunity to go long for another push upwards!!
This one has been fun to trade lately, really hoping to dial in some plays as I slowly make bigger bets on it.
Let me know what you think.
All analysis and charts are for education purposes and my own practice
Happy Trading!
