Post by
Starsearcher80 on Aug 24, 2022 12:27pm
THE MEASURED MOVE
The consolidation that we are seeing here is certainly understandable given the rise to date. Again, while we all only hope that the stock just goes up, these periods of consolidation are important and telling events in and of themselves. So far, the consolidation here is pretty much classic. Within the broader revival pattern of this kind of consolidation in a strong run, this consolidation often denotes the mid point of the overall move up. By rough math, if the first stage of the measured move was from $18 to $34, the second half of the move would be from $34 to $50. Personally, I see the stock higher than that, at $54, but that might just be in over-shoot before the stock takes another well-deserved breather. While this is not a perfect science, it is surprising how often technical patterns and measured moves do play out. We'll see what comes here, but I'm thrilled with where we are in the consolidation, and how the stock is performing, especially against the backdrop of a market that has been more than a little pisssy the past week. Onward and upward.
Comment by
vonSachsenanhal on Aug 24, 2022 5:44pm
Star, your $54 target for the next leg up looks very doable by December or earlier. If you take a look at our big run in 2021, we were at $1.28 ($32) end of June and hit $2.21 ($55.25) Oct 1. Could be even faster this time around with better fundamentals, a good Q3 report and a little FOMO from those late to the party.