$AFRM - RC -
Added 2023-10-30 11:18:46 +0000 UTCAnother finance company under severe pressure, $AFRM once had a high as $175, as people believed in the buy now and pay later model but when the banking sector started to take a turn, this was regarded as very high risk and many believed that people would simply borrow and never pay back....and just go into further debt. This caused the share price to sink all the way down to a low of $8.
It has since bounce to $25 but has only bounce in 3 waves, so this is an ABC corrective bounce to me.
This is usually met with 5 waves down, so it is possible we are going into wave 3 now, if the price can not hold the 200 Day MA at $15.30.
I have shown the levels if the banking sector can turn this around but for now, I am leaning towards the amber 5 waves down count.
Comments
How is this incorrect? Looks at the First Target and Second Target. There is a Bull and Bear Case scenario on this chart.
Gareth Neary
2023-11-02 13:21:13 +0000 UTCThis was incorrect. AFRM just firmly moved up to 19.71 (+12%).
Steven
2023-11-02 13:16:42 +0000 UTC
