$CDR EWT Analysis - The dip has bottomed?

2 Mar 2021

CDR making it hard for traders with its recent price action. The most obvious would be to call the 5-wave down from B an ending diagonal, but CDR could potentially face more downside in the coming months since they have a Class-Action Lawsuit on their hands (and maybe other lawsuits on the way). The earnings report coming out in March might also be a flop because of the refunds and removal of CP2077 digital copies from online stores.

Consider the following chart as an alternate EWT wave count before buying the dip.

4 May 2021

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At this point, the price has dropped roughly by -64%. The next major support is at 124 PLN. I think this is a great opportunity. Since the IPO in 2012, CDR has three -30% dips and two -40% dips from the ATH at the time. Upside price action is just around the corner and looking at it historically won't take for CDR long to recover.