Monday, July 25, 2016

NTDOY Nintendo Daily Chart Riding the "Pokemon GO" Wave Fibonacci Retracements

One day a hero, the next day a zero. Nintendo catapults higher on the popularity of the Pokemon GO. Look around any park and other community places and you will see many faces buried in smartphones playing the mobile game. Nintendo rocket launches from 17.5 to 37.5 a huge 114% gain; a double. Traders were high-fiving each other telling one another how smart they are.

Today, Nintendo says the Pokemon GO game will not have a material impact on its earnings. Traders hit the sell button. Note how price retreats to the 62% Fibonacci retracement at 25-ish. Watch to see if this level holds, or not. If not, the door would be open to a 100% retracement back to the 17-18 sideways zone. Price will likely bounce in here and may stutter sideways into Nintendo's earning release this week where more information on Pokemon may be provided. Humorously, if you are over 25 years old and out there playing Pokemon, it is time for you to get a job. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here. Consult your financial advisor before making any investment decision.

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