I see the left-wing of the butterfly!37$ could be the end of the 4th wave of Elliott.
butterfly harmonic pattern:
AB=0.78 XA=$37
BC=0.88 XA=$90
CD=1.6 BC=$20
Memestocks
option season is coming with the volatility!VIX maybe have a positive reaction to the static support or floor of descending channel.
The second wave is over, the third wave is startingABC shark pattern
AB=0.38 5-A
BC=1.6 AB
C-3=1.6 BC
Blackberry is a shark!four targets possibility with shark harmonic pattern:
AB=0.38 XA
BC=1.6 AB
CD=0.88 XA=$52
or
CD=1.6 BC=$59
or
CD=1.13 XA=$96
or
CD=2.24 BC=$193
another validation of butterfly pattern with shark patternthe target of shark pattern is %78 of XA on butterfly pattern.
Potential of butterfly harmonic patternAB=0.78 XA=$0.41
BC=0.38 AB=$0.87
CD=1.27 XA=$0.12
DE=0.61 CD=$0.41
butterfly targets in Elliott insightthe targets of ABC correction have been calculated base on the butterfly harmonic pattern.
A=$0.41
B=$0.87
C=$0.12
The end of Wave 1 is near. Do not fall into the trap of Wave 2The microwave 5 is starting on wave 1 with the target of 17.5.
Catch right price and time of wave 3.
$GME - Poised For Another Squeeze Towards $324Looking at the 30 minute chart, we can see that $GME is forming an inverse head and shoulders pattern. However please note that prices are yet to break above the confirmation line which is right around the 220.00 area.
An important factor to note here is that the right shoulder is forming above the 5DMA and the slope of the MA is positive. I therefore expect prices to find support at the 5DMA and continue higher and retest the confirmation line and complete the right shoulder.
Thereafter is about breaking above it and I expect a strong burst in volume if prices do so. A good way to confirm a valid break is to wait for prices to close above the confirmation line before getting in.
A pattern failure will happen if prices close below the low of the right shoulder which is around the 160.00 area and thus becomes a good level to place a mental stop loss at. Provided prices confirm the pattern, I expect prices to retest the highs of 324.00
Nokia loves 2.24 level of FIBONokia does not have other ratios of the butterfly pattern but 2.24 is for this pattern only.
5-A=2.24 4-5
so target of the 5th wave could be:
C-5=2.24 B-C=$50 *shark reversal scenario*
Wave 3 starts in July and will last up to 4 yearsNokia's fair value is 4.6$ and a positive divergence is created as wave C falls below previous wave 1. The microwave 5 is starting on new wave 1.
butterfly could shift to cypher patternAs long as it is not more than 200, it is suspicious of the head and shoulder pattern with a short-term target of 34$, and if it goes above 250, the butterfly pattern could shift to the Cypher pattern with a target between 560 to 700 and then falls to 5$.
Ok. Fresh eyes on this...The previous trends, both the upward and downward trendlines, have failed to predict the price action. I took away everything except my Gann Fan and one reliable trendline.
At this moment I believe we'll see a bounce on the 24th. It could be somewhat jarring.
$RKT meme stock short squeeze!$RKT stock has now skyrocketed 113.6% over the past three days, since the company reported better-than-expected fourth-quarter earnings and announced a special dividend of $1.11 a share. S3 Analytics said there has been a "large amount of short selling" into the stock's (RKT) recent rally, with short interest interest increasing to 47.9 million shares, or 45.8% of the public float. "RKT's stock price and short selling activity is reminiscent of another recent highflying 'meme' stock- appears to have garnered some bullish interest from day traders on Reddit’s infamous WallStreetBets.
it is near the top of the list of U.S. companies in terms of size of short bet by hedge funds, according to FactSet. That makes it a classic target by meme-obsessed investors, who have been storming together this year into shares and call options of heavily shorted companies in order to squeeze out short sellers. It was unclear of the size of the retail interest in Rocket at this time.
A number of popular posts on WallStreetBet chatroom featured Rocket on Tuesday. One says “I like RKT. $1.7M all-in, let’s gooo YOLO,” and it quickly drew more than 1,700 comments.
We expect the shares to normalize and again trade on fundamentals, however the timing is uncertain.” wrote Wells Fargo analyst Donald Fandetti
“Our beta-tested social media stuff right now picked up on yesterday some really just hugely bullish comments over on the Reddit board WallStreetBets again.
Najarian cited a jump in Rocket options trading volume following increased mentions on Reddit.
Meme-driven chatter on Rocket was not nearly as intense as seen on GameStop, according to AI firm Accrete.
The surge in Rocket could be a sign that the retail trading mania seen in GameStop earlier this year is still a factor.
When a stock with high short interest jumps sharply higher, it could force short sellers to cover their bearish positions in order to limit their losses. The short covering tends to fuel the stock’s rally further.
www.cnbc.com
Can UAVS Fly Again? I am long from $8.95. This a great set up where we have completed 5 obvious waves up with a ABC correction into the 0.618 fib level, structure area and the bottom of wave 4. Also, we have formed a morning star with todays gap up. Also, not pictured I have counted the waves down into Wave C, which finished at the projected level. Stocks should also rebound at least in the short term. Target is open.
$GNUS Higher lows PRICE... Lower Lows RSI... Bullish DIVSAdded more $8 April 16th calls this AM.. prepare to SNED.
Sundial Growers - TrendlineSNDL saw a good amount of volume and increase past week. We got in last week and got out with quick profits. Although the volume that it has looks bullish the patterns that we can see in our analysis are looking bearish. If there will be a good volume and a big love to this stock then it can break the bearish patterns. But for now we put a bearish mark to this boy. We wish luck to everybody and stay safe!
AMC Round 2 with Technical Analysis ABCDE Correction with an extended wave E. Downtrend has been broken but buyers have not stepped in yet. Double Bottom at 6.59 with Higher Lows being made after breaking downtrend signals that Bulls are trying to take back control. The double bottom is also showing Bullish Divergence on our oscillators RSI, MACD & StockRSI+.
