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To me the sector doesn't look up on average. More down than up...

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Doctor V

177 Posts.

69

15/06/21

16:05

Post #: 53853707
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Originally posted by acwbagnall: ↑

Which is pretty much the textbook psychology behind an ABC correction following a bullish 5 wave series.
But the naysayers will say that TA is nonsense and has no place.
Why did we plummet 8% today on no news when the market is up and the sector is bullish? Because the price action, i.e. chart indicated it was due to occur.
Not because of a surprise tax time creeping up. Not because of inflation concerns (we already knew about that).
Not because of bad news or sentiment in the sector.
Not because of a crash in TSLA share price.

The outlook for 2025 and beyond has not changed, this is a great long term hold. But we had to go down to go up.
Will be interesting to see if we hold ground here or if, as my charts have suggested, we will see further falls towards the low $3s.
I'll be buying more sub $3.30 if we get there.

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To me the sector doesn't look up on average. More down than up in Aussie.

GXY Price at posting: $3.64 Sentiment: Hold Disclosure: Held
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0 Great analysis

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