The Long Investor
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$VSCO
🕑 Added 2025-02-20 20:51:02 +0000 UTC$VSCO can not be in Wave 4 as the pullback so far would have infringed upon the top of Wave 1 in Feb of 2024, so we must rule out the possibility of it being a Wave 4
That being said, we have a 3 wave pull back now and the price is moving to the very strong confluence level where the 0.618 Fib and the 200 Day MA meet at $28.12, a hold here and I would expect a bounce or reversal.
The daily RSI is greatly oversold now at 23, so a bounce is due.
A hold at $28 and I can see at the very least a bounce up to the 50 Day MA at $38 next and above this level the next test is the blue line at $48.71.
Clearing this resistance level and Wave 3 is confirmed and the target is $82 at the 1.618 Fib.
Comments
Byron Tanigawa
Cap, could this still be wave 4 of a larger wave 1 diagonal?
DiegoTheSabre17
Could this be like a 1/2 1/2 wave set up?
Regular_Joe
Interesting. Anyone checked fundamentals? This is normal correction or something bad happened?
Rob
In too
Richard
In it average 30.7, we are riding same horse Kad
Kad
Wooow! Thanks for the update Cap
