DJT - Parabolic Move Incoming

قبل ٣ أيام

Politics aside, DJT is about to begin the most insane of rallies. This chart for me is as clean as they come!

Recent Price Action

• The last 2 days of October saw a ~45% correction, completing an Elliott Wave 2 correction.
  
  
• This after a bullish initial Wave 1 formation saw it go beyond even the most bullish of bullish initial price targets, in just 2 weeks flat.
  
  
• Price had prior to that been compressed inside a downwards-pointing wedge pattern (orange lines), since late March 2024. Over-shooting below it even, which is one of my most favourite bullish chart patterns.
  
  
• After breaking out of that, it is now not-only putting the finishing touches to an Inverse Head & Shoulder pattern (grey lines)... but when it does so it will also complete a massive Cup & Handle formation (white arrows).
  

Future Price Targets

• The initial target (T1) from this move would be $570 (18x) in a very short period, perhaps even just 2 months. This would coincide with the 1.414 fibonacci level from the previous introduction of this stock (formerly DWAC) to public markets.
  
  
• Thereafter, an extended 5th wave target of $1,030 (33x) could be reached somewhere between early February and late May 2025. This coincides with the 1.618 fibonacci level (darker blue T2 line).
  
  
• Price as of today has back-tested the red horizontal line, in very quick fashion. This is the 0.382 fibonacci level.
  

Next Up...

• Price may well end-up sideways on Monday and going into Tuesday's pivotal election day - which may allow the RSI to come back a little more to the mid 40s on this timeframe, to retest the RSI bull zone for support.
  
  
• From there I expect late Tuesday early Wednesday DJT will have had a sufficient amount of time to cool-off - such that we can call the completion of a Wave 2 correction. Before the hugely exciting 3rd & 5th waves await us.
  

Possible Elliott Waves

• Wave 1 - $12 to $55
  
• Wave 2 - $55 to $30
  
• Wave 3 - $30 to $570
  
• Wave 4 - $570 to $140
  
• Wave 5 - $140 to $1,030
  

Sounds ridiculous, right?

Short squeeze, or election euphoria - call it what you want. But if you thought you'd seen DJT volatility in recent days, think again. This is an incredible opportunity - with many many patterns aligning. DJT has a lot of room to the upside still from here. Not sure this stock can any longer be suppressed.