Let's say "tanking relaxation or exhaustion" ... after 2 weeks we have almost reached the target for an ABC correction with extended leg of the C ...
A: 2.96->2.52= -0.44
B: 2.52->2.8=+0.28 (63.6 of A = Fibo level)
C: 2.8->2.36=-0.44 C=100% A
C ext : 2.8->2.09 = -0.71 C = 161÷ of A
Combined with EMA200 & SMA200 at around 2.08 to 2.10 this should be a supporting or reversal level.
Question will be, if that's all and now it's going up again ... or if it was an A wave of a bigger ABC correction
Psycological approach would be either "no worries, all is fine" (deconfusing press releases would strongly support that - and up up and away it goes, next impulse starting) OR "it was nothing that important" (intermediate recovery wave B), followed by a second escalation (second leg / wave C)
As an investor i would prefer the first option - but as a realist and not getting paid for cheer this stock up (unlike some other protagonists here), i'll keep the probability of the second option in mind.
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