DroneShield has a relatively long market history and began forming its first major impulsive moves in late 2022. Since then, the stock has developed a clear market structure, which gives us confidence that DroneShield could have significant long-term potential in the next major bull run.
During its previous major rally, the stock reached a high of $6.70 with Green Wave 1. From that point, DroneShield entered a corrective phase, which we currently interpret as the formation of Green Wave 2.
At this stage, we believe the correction is approaching its final stages. If our analysis is correct and the stock completes this corrective phase, we expect DroneShield to eventually reclaim its previous all-time high and potentially move significantly beyond it in the next major bullish cycle.
Once we have confirmation that the bottom is in and the correction has ended, we will establish our first long-term price targets and outline the levels at which we expect the stock to move during the next bullish phase.
Overall, we see DroneShield as a stock with strong long-term potential, provided the current correction reaches its expected completion and the next major impulsive wave begins.
In the short term, we have identified a Fibonacci zone where we expect the long-term correction to potentially come to an end and a new long-term bullish trend to begin.
For us, this Fibonacci zone therefore represents a clear long-term buying opportunity, offering the possibility to build positions at significantly discounted prices.
Long Entry Levels:
- 123.6%: $1.48
- 138.2%: $1.38
- 161.8%: $1.22
If anything significant happens with this stock, we will update you immediately.
Kind regards,
Monalytics
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