DoorDash has officially reached and activated our Fibonacci retracement zone (in red). This zone represents a selling or short zone. We expect the market to reach this zone and then fall to complete the overall correction.
Short entry levels:
- 50% at $214.48
- 61.8% at $231.27
- 78.6% at $255.16
If you are invested in this stock and want to sell, this short-selling zone represents a prime opportunity to sell at fair, high prices. If you are a long-term investor and want to hold, this zone could offer an opportunity for a put option on this stock in the short term.
Following this, we expect the market to drop in price, go below $143.30, and reach our long-term Fibonacci retracement zone (in green). This zone represents a prime long-term buying opportunity.
Long entry levels:
- 61.8% at $134.46
- 78.6% at $93.46
- 88.7% at $66.81
From there on, we expect the market to end its long-term corrective phase and switch into a new, sustainable, strong bullish uptrend.
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.
