Cricut, Inc.Long
Clean impulse on $CRCT - Wave 3 to follow
It had a clean impulse on the daily chart. Now with 61% retracement done, it would be a good idea to consider Wave 3.
Momentum Indicators are bullish on the weekly chart and it has taken a support from 40-week EMA. The candlestick is a hammer pattern as well.
Classic example of resistance turned into a support or in other words, breakout and a retest.
Morning Star Candlestick pattern on the daily chart which is a Bullish Reversal Pattern.
The setup has a Risk-Reward Ratio of more than 8 with the SL being recent low and profit level being the equality level by Elliot Wave method.
With parallel channeling, the approximate time for the trade can be expected around one month.
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