Timing the market with the limited information available to us is nearly impossible, use the strategy that the most successful hedge fund investor in America uses "Ray Dalio"
One of his core principles are to buy in increments when the market is bearish with your cash on hand.
The key is not to buy with all your available cash on hand at ONCE, this is essential...
We have a rising support level and falling resistance; a breakout is going to occur in the coming weeks. This A-D pattern is how i anticipate the price will move towards a long breakout. To be safe after placing buy order at $6.18-$6.20 i would recommend setting a stop loss at the psychological support of 5.99 this will reduce risk and ensure you get a minimum of...
Looking at this chart we are able to see an ascending triangle. With the rising support and same resistance there can only be two outcomes, if the resistance is broken we can look to ride the momentum to the .618 fib mark before taking profits. IF RESISTANCE IS UNBROKEN set a close stop loss; we can only sustain price level hitting the resistance few times before...
Based on Fib we should take profits at $57. Bestbuy did great on boxing day and black Friday if you look at balance sheets. Try and avoid the momentum loss that can cause a panic sell, resistance is healthy.
