Pretty funny the heckling I received when up at $12 or wherever I said SKLZ would see $6.7, well guess what its going to $2.
Still early on this weekly candle but its looking very bearish following a gravestone doji reversal fakeout back into the 1:1 fib. This can be seen to be a re-test before the next wave down.
Next fibs long and medium can take price down to a 1:1 target of $2.28 which with some short range fibs will probably see price overshoot to $2 area, maybe slightly more.
And if it gets there weekly RSI will go oversold which has always been a thorn in my mind for SKLZ reversing in $6 area.
A wyckoff spring type reversal in this area is still not entirely out of the question but looks very unlikely now.
See you at $2 😄.
Not advice.
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Well on its way.
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Down another 13%. Where's that guy gone that said it can't go below $10 @mopper2019,
What's the technical reason why it will go to 2. Is it because of inflation, money printing or because MMs are simply shorting any stock that they feel that they can make money on?
dRends35
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@kencharles, Those are fundamental considerations and I leave that stuff to you guys mostly - I just do the weather and technical reasons are in the commentary.
Perhaps a reason is that price action can be very dynamic irrespective of fundamentals. See - Elliot Wave Principle for details - there is a PDF online I think, but I prefer the book.
(That's my view and Not advice)