Hubert Senters here.
Let’s take a look at eBay. Now, this is all predicated on on the markets continuing to go higher because this is a little bit of a market proxy.
This is going to go with the overall indexes. So if the indexes collapsed this trade won’t probably follow through.
But if they end up kind of hang in there a little bit and maybe go a little bit higher. This would be a decent trade set up.
So you’ve got a nice little pullback below the turning line. Went to the standard line and now you’re looking for a potential trade or a close. In this situation, let’s go for a close say for my opinion.
If it can close back above right here at $73.99 the yellow line so it goes down through the yellow touches or gets near slightly below the purple in this area and then closes back above the yellow. It’s called the slingshot trade.
And what it will do is it typically take out about a 75 percent retracement around here and then about $150 up to the high side.
So if you do that that’s the set up. Let me give you a couple little more fibonaccis here to see where it might go. It’s not a perfect one but it will work for us.
So yeah, there’s the $75 and then about a $150 would be in the area of $89. Now, it’s going to take a little bit to get there.
But overall if the market can continue or there’s trade sideways this thing can potentially get up to $78-ish, 483, $87 and then potentially a little bit higher than that.
I have been asked to speak at the Wealth 365 online event. I am going to show you how you scan the markets to find potentially better trades in as little as 10 minutes a day and with 3 clicks of your mouse.
I’m going to HYPERLINK you to the registration page.
Good luck. Hope it helps. See you on the next video.