Technical analysis by pasa0661 about Symbol GALA: Buy recommendation (4/14/2024)

Support resistances on the daily gala chart are as shown in the figure. Under normal circumstances, I do not recommend using a logarithmic chart because it is opposite to Elliot and Fibonacci. I am presenting this way so that you can easily see the support and resistance channels. When you look at the wave content, we see that the trend change was 1,272 inv and made 182%. Then the 2nd wave was 0.618 Rejection and the 3rd wave was -2.236 times the 1st wave, that is, between -1.618 ext and -1.786 ext. Then the 4th wave was 0.382 of 0-3. I expected it to be 0.618, but it was 0.618 and 0.786 of 2-3 was rejected. ... Support 0.0290 to 0.0345 ... Let's come to the 5th wave, 2-3 is between -0.618 ext and 0.786 ext and at the same time, The 1st wave length is expected to be between -1.618 ext and -1.786 ext. In summary, 0.15 cents are very good prices for sales. Note: The logarithmic one is just to see the waves more clearly after the study. Otherwise, whether percentages or Fibonacci ratios, they are all linear. You will see Fibonacci details in the comments section under analysis... Goodbye...Comment: 1.272 inv < Trend change < 1.618 invComment: 2nd wave --> 0.618 Rejection .. Corrections are not included in the wave. The wave ends when the number of inner fractals runs out.Comment: The 3rd wave is 2-236 times the 1st wave.. i.e. -1.618 ext < 3rd wave < -1.786 ext (0.618 + 1.618 = 2.236)Comment: Note: Support resistance channels are not that important. It becomes important when Fibonacci ratios coincide. Focus more on Fibonacci first. Then see if there is a support resistance channel in this range...Comment: Wave 4 range... Since he could not finish the correction zigzags, he continued his correction up to a lower range... Comment: 2-3 are at 0.786 rejection level... It is very rare.Comment: and the length of the last wave 2-3 is expected to be between -0.618 ext < wave 5 < -0.786 ext. More is not expected since the prolong makes 3. Additionally, as a proof, the 1st wave is expected to be between -1.618 ext and -1.786 ext. Comment: 1. carrying and ensuring the wave length...