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EkilibriumX

Hyliion (HYLN), correction over ?

Long
Hyliion Holdings Corp. (NYSE:HYLN)  
EkilibriumX  
NYSE:HYLN   Hyliion Holdings Corp.
Fibonacci Elliott Wave hyliion hyln hylnbull
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fibonacci elliottwaves hyliion hyln hylnbull
Since his top in September 2020, HYLN Hyliion's price has been dropping steadily. Is this trend over or will it continue ?

Two scenarios seem to emerge:

  • First scenario:
The end of the correction is near. It would be around the 1.23 Fibonnacci retracement of wave Z between $ 7 and $ 8 before further uptrend.

  • Second scenario:
The downtrend continues below $ 7 through the 1.68 Z wave Fibonnacci retracement towards $ 1 before further uptrend.

For the moment I favor an end of correction towards the 7 $ before a bullish recovery.

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