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The Long Investor - $NBIS
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The price has now dropped below the 50 WMA at $161 and this is a level we would like to see reclaimed quickly.
The next support is the 0.5 Fib at $147, just above the orange invalidation line at $143... this is an important area for bulls to defend.
This is a deeper than typical Wave 4, but the wave count remains valid while the price holds above $143.... if the price was to lose that level then it would invalidate the current setup and bring the price into the Bear Case.
For now, support is not confirmed.... we want to see buyers step in, support confirm and then the price reclaim the 50 WMA and then the 0.38 Fib at $179..
For now, we are watching for support.
The price has now dropped below the 50 WMA at $161 and this is a level we would like to see reclaimed quickly.
The next support is the 0.5 Fib at $147, just above the orange invalidation line at $143... this is an important area for bulls to defend.
This is a deeper than typical Wave 4, but the wave count remains valid while the price holds above $143.... if the price was to lose that level then it would invalidate the current setup and bring the price into the Bear Case.
For now, support is not confirmed.... we want to see buyers step in, support confirm and then the price reclaim the 50 WMA and then the 0.38 Fib at $179..
For now, we are watching for support.
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