We broke down below the trend channel (green) and the gap has been filled (yellow). This continues to be a short until we test the base channel around $13-15. If we break below the base channel then this trend is likely over and a new downtrend will form.
This is looking more and more likely. The 5th wave seems to be in a wave 5. And unless there’s a miraculous flood of buy orders in the next few days, this looks like it will break down below the base channel and tip below $70. The red box is the near term target and the boundaries are typical fib levels common for a wave 5 termination.
I think the nail in the...
Using Elliot Wave theory, an expanding triangle seems to be in play marking the beginning of the downtrend. This will likely be a double or triple combo correction. Targeting 4600.
Using Elliot Wave theory, we’re able to see that VERA has been in wave 3 since November of 2023. This move became overdone in the last month when VERA blew past all analyst estimates (average price target in the high 20s). VERA seems to be following XBI lower in a short term correction that started at the end of Feb. More context on the theory behind the downtrend...
