potential bull run to the Q3 earningsThe news are great, the fundamentals better than ever, but the stock is dropping.
WHY?
The big reason is, that big money wants to buy your share before the next bull run.
Therefore they try to push the price into liquidity zones where a lot of Stop/Losses are triggered.
250€ and 200€ are important Fibonacci targets which act like magnets.
Bull Case:
These are the current support zones.
If we assume that we have a finished Elliott Wave, than 250€ could be a support with the 0.618 Fibonacci Retracment.
This is the current Elliott Wave count, eventhough it's not quite perfect. Ignoring some minor flaws, it's still intact.
If we do a normal extention than we could have a first target nearby 600€ (700$) and 800€ (903$) for the long term.
(bear in mind that there could be an overthrow due to the hype in a parabolic movement)
Are 600€ even possible?
Fundamentally, Yes. Technically, Yes.
We had a 144% gain on the last run to the Q2 earnings which we need now for a 600€ target.
What are the risk?
If the Elliott Wave isn't correct, than we could drop even further to the bigger correction nearby 200€.
The current sentiment is extremely cautious due to the Evergrand situation. It's all about timing now if we hit the perfekt window.
PS: I'm just drawing lines. These charts are extremely speculativ. Do your own due dilligence!
