Yes we are in the expected range this week to comp
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Posted On: 06/22/2020 6:39:12 PM
Re: chazzledazzle #38565
Yes we are in the expected range this week to complete growth of the fractal channel in five waves since December.
Conservatively should top around 4.57, though could go all the way to $6 within the confines of the pitchfork channel.
Fundamentally, we're all expecting way better than that soon on COVID approval. So how do fractals resolve in this situation, or how do we interpret it?
https://www.tradingview.com/chart/CYDY/EVgTkZ...for-COVID/
https://www.tradingview.com/u/pythagoras/#published-charts
Assuming the good news plays out as expected with FDA approval in July, we're gonna need a steeper channel soon: CYDY must go parabolic.
When we analyze the charts of things that have gone parabolic like Amazon, bitcoin, palladium, 1990s internet bubble, etc, we find parabolic ENVELOPES that still contain LINEAR trading channel segments inside. Imagine a parabolic-shaped Jacob's ladder with sawtooth sparks bouncing between the parabolic antennae. The channel slopes increase dramatically from waves I to III to V, and the corrective waves II and IV are flat instead of 30-70% deep.
While tightly holding my long-term core I'm taking tiny profits this week anticipating one of these scenarios:
1. After bouncing between $4 and $4.6 this week, a shallow downspike to mid-$3s on contrived news sufficient to momentarily scare latecomers, before liftoff to double digits.
2. We're all over-exuberant now, and some unexpected delay or competition or governmental disruption somehow does drop it back to mid $2 range in July.
I'm also accumulating lots of fun stories from dozens of people I've introduced CYDY to. One of my 5th grade teachers just messaged me on Facebook today -- bought at $.31 in November. A diabetic machinist cousin got to retire in safety from army ammunition plant in April -- the plant on government contracts was not shutting down for COVID. And several more who just finally bought last couple weeks around $3, who would still be scared shirtless of a drop to $2.50.
Conservatively should top around 4.57, though could go all the way to $6 within the confines of the pitchfork channel.
Fundamentally, we're all expecting way better than that soon on COVID approval. So how do fractals resolve in this situation, or how do we interpret it?
https://www.tradingview.com/chart/CYDY/EVgTkZ...for-COVID/
https://www.tradingview.com/u/pythagoras/#published-charts
Assuming the good news plays out as expected with FDA approval in July, we're gonna need a steeper channel soon: CYDY must go parabolic.
When we analyze the charts of things that have gone parabolic like Amazon, bitcoin, palladium, 1990s internet bubble, etc, we find parabolic ENVELOPES that still contain LINEAR trading channel segments inside. Imagine a parabolic-shaped Jacob's ladder with sawtooth sparks bouncing between the parabolic antennae. The channel slopes increase dramatically from waves I to III to V, and the corrective waves II and IV are flat instead of 30-70% deep.
While tightly holding my long-term core I'm taking tiny profits this week anticipating one of these scenarios:
1. After bouncing between $4 and $4.6 this week, a shallow downspike to mid-$3s on contrived news sufficient to momentarily scare latecomers, before liftoff to double digits.
2. We're all over-exuberant now, and some unexpected delay or competition or governmental disruption somehow does drop it back to mid $2 range in July.
I'm also accumulating lots of fun stories from dozens of people I've introduced CYDY to. One of my 5th grade teachers just messaged me on Facebook today -- bought at $.31 in November. A diabetic machinist cousin got to retire in safety from army ammunition plant in April -- the plant on government contracts was not shutting down for COVID. And several more who just finally bought last couple weeks around $3, who would still be scared shirtless of a drop to $2.50.
(3)
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