Time to sell out of GAW?Hi guys/gals,
I'll be walking you through my GAW analysis, I have worked from the monthly chart down to what you see here.
Tools I use:
Time based fib extension Fib retracement Colour coded rectangles Faces to show what I believe to be fear, neutral & greed sentiments Question marks Exclamation marks EMA/MA's
With Games Workshop having fallen under the 200 ssma I see it falling much lower. The price has fallen 50% from the high set in June of '2021 and has managed to rise 50% from the '2022 September lows.
As price is still holding under the 200 ssma the long term momentum is in a down trend indicating to me we could be seeing a possible reversal in price making newer lows than the one set in September.
Is this a good selling opportunity for those bag holders only time will tell.
My target for GAW is £20.00
GAW has been in a bull market since May of '2017 and is now what I believe to be in a short/mid term retracement to the upside before continuing to the downside targeting the red zone. If hit I see a possible bounce before hitting around £20.00, if momentum keeps up on the decline it could hit the orange zone before bottoming out.
Keeping in mind this is just my personal opinion and it may not play out like that at all.
Be smart, Invest small amounts, Capital preservation is key.
This is NOT financial advice DYOR!
Crypto Leonard.
