Potential Monthly 22 Reversal Down
This ticker looks good on the weekly to potentially give up an actionable signal to move down to the Monthly trigger however it may pull a fast one. On the quarter, we can produce a failed 2Up, and a failed 2up will come crashing down.
Why would it trigger a failed 2up?
- The yearly retest and to of BF triggers that 2up on the quarter, however due to the .50 yearly and a BF. It’s likely it will reject hard.
- So if we don't get over reversal pattern at this current level of $82.72 $83.76 then we know where price is heading.
Price Targets & Ideal Buy zones
- Price Targets $78.30 $73.96 $70.85
- Ideal Buy Zone is $82.72 $83.76
- A potential 3-2-2D out this level would be great.
If price breaks above $83.76 and hold, wait til price reacts at $87.14
The purple fib level are the 3month and 6month retest areas. The monthly trigger will push price into those retest areas, so it is important to take profit. More details to come on recap of this ticker!
MID MONTH UPDATE
Nice job with the rejection at the yearly .50, I was expecting the Quarterly to trigger but it got stopped by the Yearly .50. Nice reversal pattern out the monthly area now.
