ARM eyes on $117 or ideally $90 for major supports to buy

ARM took off after IPO, and is now retracing.
All plotted levels are from a single fib series.
The golden fibs should be the strongest ones.

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Comentário:

Here we are, $90.29

Fell to it with a LOT of momentum.

Zoom in (m1)

Looks very bad, hardly a nod to golden fib.

Hopefully bulls can "orbit" this fib for a while.

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Comentário:

Bloodbath Friday due to MiddleEast conflict

Bears used the excuse to CRASH this one.

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Zoom in (m1) for a look at the day;

We had a Gap open which acted as an "Impulse",
and its "Ripples" started getting confirmations,
so can look for some possible bear targets now.

$ 82.39 is best guess
$ 83.91 should slow it a bit
$79.96 - 80.36 could be backstop

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Comentário:

Followup to last snapshot:

Looks like that wave may have ended at the 3.618,
which does happen but not as common as the 4.236

Zooming out a bit;

Local 2.618 in confluence with original Golden fib is now CRITCIAL Support.

So we watch $90.29-90.79,
if hit then it must bounce.

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Comentário:

Folloow up to last snapshot above:

Our support zone held, and bounce got to major fib at $103.82.

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Zoom back out (h1)

We see our latest Ping rejection from 100.63,
and now we will be watching support at 96.67.

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