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Rigetti Computing RGTI Hit Another Target. Possible Extension Ahead.

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RGTI has risen rapidly in value in recent days attracting the attention of investors. Here we have the 15-minute chart. Applying the Elliott Waves principle, the stock should find support in 5.89 – 7.07 area to complete a wave 4. This would generate a new rally on wave 5 that could reach around 8.94 – 10.25 or extend higher.

RGTI 15 Min Chart 12.11.2024

RGTI 15 Min Chart 12.11.2024

In any case, as long as the market respects the 5.89 – 7.07 area, RGTI must continue with the upward movement and break above wave 3 to reach at least 8.94 – 10.25. If the market closes below 5.89, it would open the possibility that the value of the stock will drop to 4.00 before looking for another move higher.

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI found support at 5.78 low and rallied. From here, we are looking to build an impulse structure as wave 5. Wave ((i)) could be completed already and while the pullback as wave ((ii)) is above 5.78 low, RGTI should continue higher. The target for this wave 5 comes in 9.11 -10.14 if there is not more extension in the rally.

RGTI 30 Min Chart 12.20.2024 

We can see in the chart how was the formation process of the impulse as wave 5. Wave ((ii)) did an expanded flat correction that was very deep, almost breaking the invalidation price. In the rally, we see 5 waves reaching the expected zone of 9.11 – 10.14 completing wave ((iii)). This should have given us a clue that the market still needed one more high to finish the wave 5 impulse. And so it was! After the correction of wave ((iv)), Rigetti built an extended wave ((v)) to finish wave 5 at 12.75 high. The truth is that I would not have considered an extended wave ((v)), I would have considered a value of 11.05 to complete wave ((v)).

The rally also completed wave (3) and the market reacted downwards returning to the support zone of 5.78 – 7.07 finishing wave (4). As long as the market does not close below this area, RGTI should continue to rise in the short term. With a close below this area, we must reanalyze the market structure. For now, we should focus on looking for more bullish movement that reaches the 14.34 – 16.85 area, if there are no further extensions, to finish wave (5).

RGTI 30 Min Chart 12.26.2024 

RGTI 30 Min Chart 12.26.2024 

Today we hit a new target after RGTI rallied around 34% and wave (5) looks like is going to extend higher. We can see how wave 1 ended at 12.79 high and the market did a small pullback as wave 2 to 10.20 low. The wave 3 started hitting our target area of 14.37 – 16.89 and it is possible that it is not completed. Therefore, the market should continue moving sideway to higher until it ends wave 3. Then wave 4 correction should retest around the low of wave ((iv)). Currently, we do not know where wave ((iv)) is going to end, keep an eye on that price.

Finally, a last push higher should end wave 5 of (5) before seeing a retracement in 3, 7 or 11 swings correction. The invalidation level is at 10.20 low. If the price breaks at any moment this level, the cycle should be ended and RGTI could return to the support zone.

RGTI 30 Min Chart 12.26.2024 

RGTI 30 Min Chart 12.26.2024.2

This option is the most conservative view. As you can see, the structure would be currently in wave 5 and could start to retrace at any moment. If this count plays out, we could return to the support 5.78 – 7.07 zone before continuing with further bullish movement.

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Netflix Is In Process Of Doing Five Waves Advance

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Short Term Elliott Wave view in Netflix ticker symbol: $NFLX suggests that rally from 8.05.2024 low is incomplete & should continue upside. It is showing 3 swing higher since August-2024 low & expect more upside against 11.18.2024 low. It ended 1 at $736 high as diagonal & 2 correction at $669 low. Within 1, it placed ((i)) at $711.33 high, ((ii)) at $660.80 low & ((iii)) at $728 high. Wave ((iv)) ended at $696.43 low & finally ((v)) ended at $736 high as wave 1. Within 2 correction, it placed ((a)) at $699.78 low, ((b)) at $710.24 high & ((c)) at $669 low near 50% Fibonacci retracement of 1.

Above 2 low, it favors upside in wave 3 in another 5 waves impulse sequence. Whereas wave ((i)) ended at $773 high, wave ((ii)) ended at $744.26 low. Wave ((iii)) ended at $841 high, wave ((iv)) ended at $804.30 low and wave ((v)) at $941.75 high. Below from there, the stock made a pullback in wave 4 to correct the cycle from 10.17.2024 low. The internals of that pullback unfolded as Elliott wave double three structure where wave ((w)) ended at $909.61 low in a lesser degree 3 waves.

A bounce to $928.94 high ended wave ((x)) and started the ((y)) leg lower towards $896.73- $876.79 blue box area where buyers were expected to appear. Since then the stock has reacted higher from the blue box area allowed longs to get into a risk free position. Therefore ended wave 4 pullback at $881.01 within the blue box area. Near-term, as far as dips remain above $881.01 low and more importantly above $804.46 low the stock is expected to resume the upside in wave 5. For minimum extension target towards $956.38- $979.68 area higher (inverse 123.6%- 161.8% Fib extension of wave 4). Before ending the cycle from 8.05.2024 low in 5 waves advance & making a pullback.

Netflix (NFLX) Latest 45-Minutes Elliott Wave Chart

Netflix Is In Process Of Doing Five Waves Advance

Netflix Elliott Wave Video

Rigetti Computing RGTI Hit Target, What is Next?

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RGTI has risen rapidly in value in recent days attracting the attention of investors. Here we have the 15-minute chart. Applying the Elliott Waves principle, the stock should find support in 5.89 – 7.07 area to complete a wave 4. This would generate a new rally on wave 5 that could reach around 8.94 – 10.25 or extend higher.

RGTI 15 Min Chart 12.11.2024

RGTI 15 Min Chart 12.11.2024

In any case, as long as the market respects the 5.89 – 7.07 area, RGTI must continue with the upward movement and break above wave 3 to reach at least 8.94 – 10.25. If the market closes below 5.89, it would open the possibility that the value of the stock will drop to 4.00 before looking for another move higher.

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI 5 Min Chart 12.11.2024 (Market Closed)

RGTI found support at 5.78 low and rallied. From here, we are looking to build an impulse structure as wave 5. Wave ((i)) could be completed already and while the pullback as wave ((ii)) is above 5.78 low, RGTI should continue higher. The target for this wave 5 comes in 9.11 -10.14 if there is not more extension in the rally.

RGTI 30 Min Chart 12.20.2024 

We can see in the chart how was the formation process of the impulse as wave 5. Wave ((ii)) did an expanded flat correction that was very deep, almost breaking the invalidation price. In the rally, we see 5 waves reaching the expected zone of 9.11 – 10.14 completing wave ((iii)). This should have given us a clue that the market still needed one more high to finish the wave 5 impulse. And so it was! After the correction of wave ((iv)), Rigetti built an extended wave ((v)) to finish wave 5 at 12.75 high. The truth is that I would not have considered an extended wave ((v)), I would have considered a value of 11.05 to complete wave ((v)).

The rally also completed wave (3) and the market reacted downwards returning to the support zone of 5.78 – 7.07 finishing wave (4). As long as the market does not close below this area, RGTI should continue to rise in the short term. With a close below this area, we must reanalyze the market structure. For now, we should focus on looking for more bullish movement that reaches the 14.34 – 16.85 area, if there are no further extensions, to finish wave (5).

Elliott Wave Forecast  

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

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IONQ Soon Should Be Entering Into Wave IV pullback

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IONQ, Inc. develops and manufactures quantum computers. The firm specializes in quantum computing and quantum information processing. The company was founded by Christopher Monroe and Jung Sang Kim in 2015 and is headquartered in College Park, MD. In this blog we are going to take a look at the technical analysis for IONQ ticker symbol: $IONQ. In which, we will look at the weekly chart showing two channels to the upside from all time lows. Supporting a possible nest structure in the making favoring more upside.

In which the rally to $35.90 high ended wave ((I)) and down from there made a pullback lower. The internals of that pullback unfolded as a double three structure where wave (w) ended at $9.16 low. Then a bounce to $17.66 high ended wave (x) bounce. And wave (y) ended at $3.03 low, thus completed wave ((II)) pullback. Up from there, the stock is rallying higher in an impulse sequence where wave I ended at $21.60 high and wave II pullback ended at $6.22 low. Above from there, the stock is taking extension higher in wave III already and expected to reach $43.31- $54.79 200%-261.8% Fibonacci extension higher. Suggesting that bulls needs to be careful at this stage of the market because soon IONQ should be entering into wave IV pullback. We don’t recommend selling it and next pullback should offer buying opportunity later on in 3, 7 or 11 swings.

IONQ Elliott Wave Weekly Analysis From 12.17.2024

IONQ Soon Should Be Entering Into Wave IV pullback

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DKNG Looking To Resume Higher After Completing The Pullback

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The Draft Kings, Inc. ticker symbol: DKNG is a digital sports entertainment and gaming company engaged in providing online sports betting. Online casinos, daily fantasy sports product offerings, Draft Kings Marketplace. Retail sports betting, media and other gaming product offerings. consumption. It operates through the following segments: Business-to-Consumer (B2C) and Business-to-Business (B2B). The business-to-consumer segment includes sports betting, iGaming and DFS product offerings, as well as media and other consumer product offerings. The Business-to-Business segment includes the design and development of gaming software. The company was founded by Jason D. Robins, Matthew Kalish, and Paul Liberman on December 31, 2011 and is headquartered in Boston, MA.

In this blog, we will look at the technical analysis on DKNG. In which, the super cycle degree wave (I) ended at $74.38 high and made a 3 wave pullback against all time lows within wave (II). The internals of that pullback unfolded as zigzag correction where wave cycle degree wave a ended at $39.93 low. Wave b bounce ended at $64.58 high and wave c ended at $9.78 low. Thus completed wave (II) pullback. Up from there, the stock made a 5 waves rally & ended  cycle degree wave I at $49.57 high. Down from there, the stock made a 7 swings lower pullback and completed wave II pullback at $28.69 low. Near-term, as far as dips remain above $28.69 low and more importantly above $9.78 low expect stock to resume the upside.

DKNG Weekly Elliott Wave Analysis

DKNG Looking To Resume Higher After Completing The Pullback

If you are looking for real-time analysis in Stocks & ETFs then join us with a 14-Day Trial for the latest updates & price action.

Success in trading requires proper risk and money management as well as an understanding of Elliott Wave theory, cycle analysis, and correlation. We have developed a very good trading strategy that defines the entry.

Stop loss and take profit levels with high accuracy and allow you to take a risk-free position, shortly after taking it by protecting your wallet. If you want to learn all about it and become a professional trader. Then join our service by taking a Trial.

Better Restaurants with Toast, Inc (TOST) Support

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Toast, Inc. (TOST) operates a cloud-based digital technology platform for the restaurant industry in the United States, Ireland, and India. The company offers software products for restaurant operations and point of sale. In addition, the company offers payroll and team management.  Further, it offers reporting and analytics, Toast shop, and Toast partner connect and application programming interfaces. The company was formerly known as Opti Systems, Inc. and changed its name to Toast, Inc. in May 2012. Toast, Inc. was incorporated in 2011 and is headquartered in Boston, Massachusetts.

TOST May 2024 Weekly Chart 

TOST May 2024 Weekly Chart 

TOST completed a grand super cycle in 2012 reaching a share price of $69.93. We called this high wave ((I)). From here, the stock started to plummet and it reached a value of $11.91 in less than a year. We labeled this low as wave ((II)). Then the price started to move sideways fluctuating between $12 and $27 dollars. For this reason, we started to label nests looking for the stock to recover. The first group ended wave (I) at $26.04 high. The corrective wave (II) drew an expanded flat structure that ended at $13.27 low and then the market rally. The next bullish momentum reached its maximum at $27.90 and we labeled it as wave I. Therefore, we expected a correction as wave II before continuing a new rally again.

TOST November 2024 Weekly Chart

TOST November 2024 Weekly Chart

Currently weekly chart, we can see the correction as wave II. It ended at $21.32 low in June and continued moving sideways. We were waiting to break above wave I high to confirm that wave II has completed. In September, the market breaks above $27.90 and the bullish market was confirmed. TOST created a separation from the lows after US elections, suggesting a wave III higher. This wave III looks incomplete and we should see higher prices until the structure is ended and start a wave IV correction. The weekly chart is valid as price action stays above $11.91 low.

TOST November 2024 16H Chart

TOST November 2024 16H Chart

To get a closer look at what is happening in TOST, we are showing the 16-hour chart. We are not using the daily chart because it did not show the retracement of wave (4). We can clearly see the structure of wave III. Wave ((1)) of III ended at $27.95 high. Then, a correction finished at $21.76 low, close to breaking the low of $21.32, and we marked as wave ((2)). The wave ((3)) of III is still developing we expect to reach $43.00 – $45.00 area before starting a wave ((4)) pullback. The stock should continue moving higher to sideways until wave III is completed.

Elliott Wave Forecast  

www.elliottwave-forecast.com updates one-hour charts 4 times a day and 4-hour charts once a day for all our 78 instruments. We do a daily live session where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market.

14 Days Trial for $9.99 only. Cancel anytime at support@elliottwave-forecast.com