Special request for one of my fellow followers LDO Leonardo
Has been in a bloody downtrend for over 20 years (!)
Lets look at the chart: We are expecting a big ABC correction where as the C wave possibly could have been completed at the yellow arrow but that would be very much truncated.
The recent red (bear) flag most likely is going to resolve to the bottom dictating prices of 4€-6€
One would also argue there is a head n shoulders formation where the neckline just got tested and is heading below confirming lower prices.
In order to really finish this big formation at least a double bottom or a new lower low is required meaning the final target will be below 2.60€
Things will start to look better on a break above 10.95€ and r/s flipping the downtrend.
whether the break of the trend happens around here or later and lower it will require some time, probably years to finish
Hold my beer pls
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No financial advice, do your own research, don't be stupid
Has been in a bloody downtrend for over 20 years (!)
Lets look at the chart: We are expecting a big ABC correction where as the C wave possibly could have been completed at the yellow arrow but that would be very much truncated.
The recent red (bear) flag most likely is going to resolve to the bottom dictating prices of 4€-6€
One would also argue there is a head n shoulders formation where the neckline just got tested and is heading below confirming lower prices.
In order to really finish this big formation at least a double bottom or a new lower low is required meaning the final target will be below 2.60€
Things will start to look better on a break above 10.95€ and r/s flipping the downtrend.
whether the break of the trend happens around here or later and lower it will require some time, probably years to finish
Hold my beer pls
----
No financial advice, do your own research, don't be stupid
