Seagate
STX Set For A Quick Jump Next Week?Based on historical movement, the trough could occur anywhere in the larger red box. The final targets are in the green boxes. The pending top should occur within the larger green box as has been the historical case. Half of all movement has ended in the smaller green box. In this instance, the signal indicated BUY on March 11, 2022 with a closing price of 87.33.
If this instance is successful, that means the stock should rise to at least 88.71 which is the bottom of the larger green box. Three-quarters of all successful signals have the stock rise 7.129% from the signal closing price. This percentage is the bottom of the smaller green box. Half of all successful signals have the stock rise 9.993% which is the end point of the black dotted arrow. One-quarter of all successful signals have the stock rise 12.625% from the signal closing price which is the top of the smaller green box. The maximum rise on record would see a move to the top of the larger green box. These are the same concepts for the levels in the red boxes as well.
The ends/vertical sides of the boxes are determined in a similar fashion. The peak of the rise can occur as soon as the next trading bar after signal close, while the max rise occurs within the limit of study at 35 trading bars after the signal. A 1% rise must occur over the next 35 trading bars in order to be considered a success. Three-quarters of successful movement occur after at least 2 trading bars; half occur within 7 trading bars, and one-quarter require at least 18 trading bars.
The black dotted arrow represents median historical movement. Medians are a good metric, but they are just one of many I use when forecasting future movement.
As always, the stock could decline the very next bar after the signal without looking back (therefore the red boxes would not come into play) or the stock may never decline (and the green boxes may never come into play).
$WDC $STX $XCHUSDT CHIAI decided to combine block analysis (the Wyckoff distribution method or "smart money" in the people) with Elliot wave analysis and got the following picture.
We are in the plane where wave B is now.
Spring 2020 was Shakeout.
At the moment, Western Digital (probably $STX Seagate) are ready to accelerate significantly (on the background of the rapid growth of CHIA?)
The maximum possible increase in $WDC - up to level 2 (201.98)
Take profit on white fibo levels, because the end of the impulse is unknown.
This paper is ready to explode at any moment (the entire growth of the current year will go into HDD mining (it hits RAM, SSD, HDD and multi-threaded processors).
12/19/21 STXSeagate Technology Holdings PLC ( NASDAQ:STX )
Sector: Electronic Technology (Computer Peripherals)
Market Capitalization: 23.268B
Current Price: $104.51
Breakout price: $106.80
Buy Zone (Top/Bottom Range): $104.60-$100.00
Price Target: $123.00-$125.00
Estimated Duration to Target: 80-88d
Contract of Interest: $STX 3/18/22 105c
Trade price as of publish date: $8.15/contract
Seagate Technologies Breakout on Crypto NewsSeagate Technology plc (STX) provides data storage technology and solutions in Singapore, the United States, the Netherlands, and internationally. The company manufactures and distributes hard disk drives, solid state drives and their related controllers, solid state hybrid drives, and storage subsystems. The company started an explosive move higher on a report that they were early investors in Ripple, the cryptocurrency attempting to revolutionize the way financial institutes move money. The stake would reportedly have been worth roughly $8 billion at the time of the news vs. a $12 billion market cap for Seagate. This all lead to a breakout to all time highs for the stock as seen in the chart.