The Long Investor

$DNA

Added 2023-11-08 17:56:07 +0000 UTC

Earnings after the close today and the decline today means that it has completed 3 waves down since topping out at $1.70, the price action also pulled back to the 50 Day MA right now and is sitting between the 0.5 - 0.618 Fib.......how many times do we consistently see this set up?...its repeated on every chart, over and over.

So let's be clear, what does this mean to have this set up leading into earnings?

It means that this chart is in a good position to move to the upside, as long as the report delivers as expected and there is no surprises.

So if there is a miss on Revenue or EPS, or there is a weak guidance then there is at risk of this coming down and breaking down from the structure and we are down to the blue impulse wave invalidation line at $1.10.

So far the chart and set up is giving the report every chance to deliver and be a positive catalyst to move this up higher.

This is also shown by the strong bounce from the 0.887 Fib at $1.29.

All eyes on the earnings report now.