Airo has broken below our Fibonacci buying zone. We expected this zone to properly mark the end of a first impulsive fractal, which was falsely interpreted and has now turned out to be a corrective move with orange wave B. This means that the underlying correction within green wave 2 is not finished, and the market could move back down toward the $5.99 level.
In the long term, however, we still clearly expect this stock to find its long-term bottom very soon and break above $7.72 to validate our impulsive expectations.
However, we have deactivated our Fibonacci buying zone ingreen and now have to wait and see what Airo does next. Our expectation of a completed correction remains close.
We have also established an alternative scenario. If Airo breaks below $5.71, the stock could move toward new cyclical lows. However, we have established a Fibonacci buying zone where we expect this cyclical low to occur.
Alternative Long Entry Levels
- 123.6%: $4.71
- 138.2%: $4.11
- 161.8%: $3.13
This zone represents a worst-case scenario for the stock. However, it would also open up price opportunities at extremely low levels for Airo. For now, we will have to see what happens next.
If anything happens with this stock, we will update you immediately.
Kind regards,
Monalytics
DISCLAIMER: The content on this website, including charts, analyses, and recommendations, is for informational purposes only and does not constitute financial, investment, or professional advice. Trading and investing involve risk. You should consult a qualified financial advisor before making any investment decisions.
