These covid stocks will pull back in the next couple of weeks in sympathy with Pton guidance announcement.
Docu fell significantly Friday but bounced off fibonacci support at 264.
Our trendline now aligns with that fibonacci support at 264 so a drop beneath that number would be a break beneath 2 crucial supports. Friday closed on high selling volume, let's see if it was an over reaction to pton news or is there some follow through.
Short entry
263
stop loss 264.50
Target 203 (Gap close)
Docu fell significantly Friday but bounced off fibonacci support at 264.
Our trendline now aligns with that fibonacci support at 264 so a drop beneath that number would be a break beneath 2 crucial supports. Friday closed on high selling volume, let's see if it was an over reaction to pton news or is there some follow through.
Short entry
263
stop loss 264.50
Target 203 (Gap close)
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