DoorDash has set a major all-time high at $285.50. This peak represents green wave 1 and therefore a significant long-term high, before the market transitions into a corrective phase forming green wave 2. DoorDash has already initiated this correction and has completed the first leg of this corrective phase with orange wave A.
Currently, optimism is returning to the market, pushing prices higher and forming a short-term recovery phase — orange wave B. We expect this recovery to be driven by false bullish momentum, which is anticipated to fade quickly and give way to one final major sell-off, forming orange wave C and completing green wave 2 — bringing the overall correction to a close.
For this short-term recovery, we have defined a Fibonacci selling or shorting zone (marked in red).
Short Entry Levels:
- 50% at $214.48
- 61.8% at $231.27
- 78.6% at $255.16
Stop Loss: 1% above the zone at $257.73
Within this zone, we expect DoorDash to conclude its current recovery phase and lose bullish momentum — fading back down to break below the prior low of orange wave A at $143.30, ultimately forming the end of the overall correction within our defined Fibonacci retracement zone (marked in green). This zone represents prime buying opportunities for this stock.
Long Entry Levels:
- 61.8% at $134.46
- 78.6% at $93.46
- 88.7% at $68.81
Stop Loss: 1% below the zone at $68.11
Within this zone, DoorDash is expected to form a long-term historical low before regaining strong bullish momentum — driving prices far beyond its current all-time high.
Should anything happen with this stock, or once DoorDash reaches and activates one of our defined Fibonacci retracement zones, we will update you immediately.
Kind regards,
Monalytics
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