Libero_one

Hyliion (HYLN), correction over ?

Long
NYSE:HYLN   Hyliion Holdings Corp
Since his top in September 2020, NYSE: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.