Elastic N.V.Largo
Long term trend reversal thanks to Covid
Most tech stocks have fared exceptionally well during the crash.
Some of them were trending sideways for years or in a long term downtrend for many quarters.
Covid was the catalyst that reversed their downtrend and proved their existence to the broader market.
The uptrend is almost confirmed. Need to wick past the $100 level for full confirmation.
I'll be looking to enter at a test of 120 EMA again.
Ideal entry : Wick past 100 and retest that level + 120ema touch
Seems unlikely when the optimism over tech stocks is high, but it will come.
Some of them were trending sideways for years or in a long term downtrend for many quarters.
Covid was the catalyst that reversed their downtrend and proved their existence to the broader market.
The uptrend is almost confirmed. Need to wick past the $100 level for full confirmation.
I'll be looking to enter at a test of 120 EMA again.
Ideal entry : Wick past 100 and retest that level + 120ema touch
Seems unlikely when the optimism over tech stocks is high, but it will come.
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