Below is an update to our March 5, 2021 downside targets for ARK Innovation based on the work of Edson Gould.
The targets, based on the $156.58 peak, continues to be at:
The red boxes indicate where the price either breaks above or below the prior support (now a resistance level). Currently, the ascending $71.98 level is a resistance which, if broken to the upside, will provide positive momentum to retest the ascending $90.73 level. Naturally, a break below the ascending $53.23 level usually results in that being the next target for the price of the ETF.
Posted in ARKK, Edson Gould, Speed Resistance Lines, SRL
Below are the downside targets based on the work of Edson Gould. Continue reading
Below are the upside resistance targets based on the work of Edson Gould.
Our commentary from October 5, 2019 has remained accurate. At the time, we said:
“The more time passes the easier it gets to exceed the minimum upside resistance target of 3,815.82. The problem comes up when the market fails to breakout out on the upside in spite of the passage of time.”
The 3,815.82 target was achieved on what appeared to be strength. However, the 4,275 target has been met with resistance.
See Also:
Below are the downside targets based on the work of Edson Gould.
The targets, as noted in the chart above are:
There is no indication that the price of Moderna Inc. has peaked. For this reason, the targets are tentative at best. We will need to revise the targets once a decline in the price takes place.
Posted in Edson Gould, MRNA, Speed Resistance Lines, SRL
Below are the upside resistance targets based on the work of Edson Gould.
The targets, based on the $0.18 low, are:
Each of the upside resistance targets are levels to expect that the price will either trade in a range or revert to a continuation of the declining trend.
Posted in DogeCoin, Edson Gould, Speed Resistance Lines, SRL
Below are the downside targets for MarketAxess Holdings (MKTX) based on the work of Edson Gould’s Speed Resistance Lines.
Posted in Edson Gould, MKTX, Speed Resistance Lines, SRL
Below are the downside targets based on the work of Edson Gould.
The targets, as noted in the chart above are:
The $821.80 target is generally assured, from all parabolic increases of this nature. There exists the potential to decline as low as $410.90. However, we reserve this target as a backup to achieving the $562.00 price.
Posted in Edson Gould, lumber, Speed Resistance Lines, SRL
Review
On February 5, 2018, we outlined the similarity in the level of increases between Bitcoin and Ethereum. At that time, we said the following:
“The periods in question happens to have the same percentage change, approximately +13,400%.”
We then surmised that if Ethereum could increase the same as Bitcoin then it wouldn’t be far fetched to consider the prospect of Ethereum declining to the same level of -93%, after such an increase. We said the following:
“As with the same percentage increase, it is reasonable to expect the same percentage decreased that followed. For the price of Bitcoin, it plunged –93.07% from June 8, 2011 to November 18, 2011.”
By January 10, 2019, we published an article titled “Ethereum: Stunning -93% Decline”. In that piece, we said:
“The difference between the high of $1,385.02 and $84.06 is equal to –93.93%. This decline was similar to the decline experienced by Bitcoin in 2011.”
DogeCoin Downside Targets
Below are the downside targets based on the work of Edson Gould.
The targets, based on the $0.41 peak, are:
The -93% downside target for DogeCoin from the $0.41 level is $0.03. We have intentionally excluded the potential upside target of $1.41. Our emphasis is exclusively the downside risk.
Posted in DogeCoin, downside, Edson Gould, Speed Resistance Lines, SRL
Below are the downside targets for ViacomCBS (VIAC) based on the work of Edson Gould.
Using the Speed Resistance Lines of Edson Gould is ideal since it is a relative scale for every stock no matter the price. Additionally, parabolic increases have been consistent in achieving the conservative target in the past (except in the case of Telsa).
Posted in Speed Resistance Lines, SRL, VIAC
On September 13, 2018, we provided downside targets for Tilray when it was trading at $118. The downside targets, based on the work of Edson Gould, were:
Because of the speculative activity in Tilray, we made a point of building downside targets for the stock if the price doubled to $236. At such a price, the downside targets were:
The actual intraday high for Tilray was $300 on September 19, 2018. This was a far cry above the initial trading price of $118 that the downside targets were constructed.
As seen in the chart below, the actual low has been $2.43 and Tilray currently languishes at a price of $16.80.
On January 19, 2021, we projected price targets for GameStop (GME) when the stock was quoted at $39.91. At the time, the downside targets were:
Since that article, GameStop has increased as high as $159.18.
Given what we’ve seen with Gould’s downside targets in the case of Tilray and other stocks, we still believe that the conservative downside target of $21.26 will be achieved.
Posted in Edson Gould, GME, Speed Resistance Lines, SRL, TLRY
Based on the work of Edson Gould, we have determined the downside targets for GameStop Corp. (GME) covering data from the last two years. To arrive at conclusions that are reasonable, we first must determine precedent for the potential declines.
2002-2012
In the period from 2002-2007, GameStop Corp. increased to a high of $63.30 which established the following downside targets:
The actual low was $15.73 in 2012.
2012-2020
In the period from 2012-2020, GameStop Corp. increased to a high of $57.43 which established the following downside targets:
The actual low was $2.80 in 2020.
2020-2021
In the period from 2020-2021, GameStop Corp. increased to a high of $39.91 which established the following downside targets:
If GameStop were to replicate the rise of 2002-2007, the price could easily achieve a level of $47.40 before a significant decline ensues. However, achieving such a high price would still relegate the stock to the conservative downside target of $21.26.
The only action we take on downside targets is re-examination of the company fundamentals with an eye for acquiring a long position in the company in question. We do not attempt to short the stock in any form.
Posted in downside, Edson Gould, Speed Resistance Lines, SRL
Review
We have run Tesla Downside targets in the past.
All parabolic moves get corrected by a specific amount, at minimum. Because a declining trend has begun, we have run the numbers of the expected downside targets based on Edson Gould’s Speed Resistance Lines.
The targets are:
The previous FAILED downside targets had significant problems that could have been easily remedied. First and foremost, for highly volatile stocks like Tesla, we did not include downside targets assuming the price would double. This is usually the most likely scenario to play out and is best represented in our September 13, 2018 targets for Tilray (TLRY).
At the time, Tilray was trading at $118 and we had laid out our downside targets for the stock as seen for Tesla above. However, acknowledging the psychological component of the change in the price, we included downside targets for Tilray if the price doubled ($236) [within the chart]. In fact, Tilray did double shortly afterwards and the downside targets for the doubled level were achieved, by a wide margin.
The doubling downside targets for TSLA are (assumes $996.64 peak):
We’re glad to have failed the previous times as it refines and teaches what we need to know about the limits of Edson Gould’s work. We hope to continue the process of learning as we teach.
See also:
Top three downside targets achieved by year
2020
2019
2018
2017
2016
Posted in Edson Gould, Speed Resistance Lines, SRL, TSLA
Below are the downside targets for Tesla Inc. (TSLA) as of July 7, 2020.
Parabolic increases rarely go unchecked. This typically means that a decline to the conservative downside target is the norm, at minimum. However, Tesla has had a history of defying the “norm” when it comes to price change.
see also: TSLA downside targets achieved
Posted in downside, parabolic, Speed Resistance Lines, SRL, TSLA
Below are the downside support lines for Twilio Inc. (TWLO) from 2016 to 2017:
Below are the downside support lines for 2017 to 2020: Continue reading