Dunno??Possible ARC pattern
If it is, most parabolic arcs return to 50 to 62% of prior rise in correction mode. These are long term patterns but just keep your eyes open is all. I do not like this term as sometimes the stock continues up anyway..for a while...especially in this market~!
38% 248.45
50% 210.85
62% 174.20
79% 123.54
89% = 93.02 or even 100% is possible
Parabolic Arc patterns are generally rare but they are reliable and are generated in mega bull trends. These patterns trend gradually making higher highs and lower lows in the beginning stages but can be volatile in the exhaustion and reversal stages.
This is a daily chart, but it is easier for me to see the arc pattern on weekly. The orange is the 50 day MA and the red is the 200 MA
Just an observation
Other POSSIBLE ARCs I have noticed include SE, PTON, PLUG, DNLI, BILI, FIVN, SHOP, MGNI, OSTK, REGI, PINS, BEEM, GRVY, CRWD, BILI, ENPH, FVRR, MELI, and keeping my eye on TSLA, AMD and NVDA. OUCH! But even if these are ARCs, it does not mean there is not further upside as the ARC is a long term pattern.
