Hi YXI friends,
Please review today’s chart analysis on META, SBET, PYPL, NET, and BULL.
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Table of Contents
0) S&P 500 (SPY ETF)
S&P 500 (SPY ETF) YTD is among the top 4 best years of the past decade. This is remarkable after the dramatic Q1 crash.
1) META
META has likely bottomed this week, with wave (c) filling out the 1.236 extension of wave (a). The incoming wave circle-v rally could target above $840.
2) SBET
The volume profile suggests heavy accumulation between $15 and $20. Upon take off, SBET could race towards the wave (iii) target above $120.
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3) PYPL
I am watching in the short term for a wave iv pullback, which could hold at the 200-day MA (red). Afterwards, one more high in the $80s is likely for wave v.
4) NET
NET is likely in wave 5 of its rally from the April low. Wave 5 may stretch into the $240-250 region, but the risk-reward is unattractive at this point.
5) BULL
BULL appears to be forming a leading diagonal run to start its bullish cycle. This means the cycle could experience an a-b-c pattern in all of its 5 waves, with waves circle-i and circle-iv overlapping. Wave circle-iii can target around $24.
