Support 1: 54.42 Resistance 1: 30.00
Support 2: 47.09 Resistance 2: 34.07
SKYY has just completed its bullish 3rd minute wave and the current corrective abc wave might be near to the stock’s final correction price level. Base on the following technical factors, we believe that the stock will resume its final bullish phase as the last 5th wave.
*Should the stock price fall bellows the support zone 1; then the bearish wave might be extended to 51.00.
Red dotted line = 200 period moving average
Red Horizontal Line = Fibonacci extension of a-b at 127.2%.
Purple Horizontal Line = Fibonacci retracement of wave 2-3 at 50%.
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