DKS eyes on $212 for KEY support: break could end Bull Run

4 Nis 2024

Retail stocks have been flying to record highs.
DKS is retesting a Major zone as possible support.
Strong bull bounces here, or we risk much deeper.

$ 212.03 - 210.66 is the strongest support for some distance.
$ 238.70 - 242.55 is the nearest significant resistance above.
$ 132.21 - 135.32 is next major support with minors between.

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29 May 2024

Not

BOOM

Drifted down to our first "Minor Support" around $185,
then bounced well even before earnings then report popped it.

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Zoom in (m15)

The bounce was off a Covid Stimulus fib (dashed").
And that is a Golden Ratio on that series, at $185.53.
The earnings spike took it a sister fib above at $226.14

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So next we can look for 1 of 2 scenarios:

As in expecting another Sister-to-Sister pass,
to serious resistance above at $$238.70-242.55,
or down to moderate support at $210.66-212.03.

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3 Kas 2024

İşlem aktif

Perfect Fibnastics

(yellow shaded area is from posting time)

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Zoom in a bit (h1)

Our "Semi-Major"" Resistance was the perfect exit.

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Looking at the dip (with notes):

$193.19 Genesis fib might hold.
$181-182 next stop and best guess.
$210-212 is now Serious Resistance.

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Lets see what next week (election) brings.
Rising ride should lift this from where it is.

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