$HOOD
Added 2024-12-12 17:12:20 +0000 UTCNice move down from $42 to $35 today after rejecting at our Wave 3 target at the standard 1.618 Fib
As always the Wave 4 target is the 0.38 Fib which is at $31.82
In some circumstances we have a pull back only to the 0.236 Fib if there is a lot of bullish sentiment around a position
The 0.236 Fib did hit today and has bounced but this could also be a Wave B bounce of Wave 4, which is usually the case.
For me, I will continue to expect the 0.38 Fib to hit to complete Wave 4
If there is ever a doubt, either DCA in or expect the standard Fib to hit.
Comments
Looks like 5 waves down on the hourly, so I would expect this to be a B-wave bounce
Matt Manary
2024-12-12 18:59:12 +0000 UTC
