FNKO should extend lower
Premium|Take advantage of 60% OFF on your first month.
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
You have reached your limit of 5 free articles for this month.
BLACK FRIDAY SALE! 60% OFF!
Grab this special offer, it's 7 months for FREE deal! And access ALL our articles and analysis.
CLAIM OFFERFunko, Inc. ( FNKO ) is a pop culture consumer products company, which designs, sources & distributes the licensed products across the globe. It trades under FNKO ticker at Nasdaq.
Since 2017 in daily, FNKO made all time low at $3.12 during sell off across the global markets in early last year. Thereafter it started the higher high sequence as an impulse, which favored ended at 5/28/2021 high. And below May-2021 high, it is correcting the cycle against April-2020 low in proposed Zigzag structure.
FNKO – Elliott Wave View on Daily chart:
In daily, it started impulse sequence as wave ((1)) from 4/03/2020 low & ended at $7.78 on 6/08/2020 high. The ((2)) was dip correction as usual & ended at $4.72 low on 7/09/2020. Above $4.72 low, it started explosive move after a sideways consolidation & break out as ((3)) extension, which ended at $25.07 high on 4/01/2021.
Thereafter ((4)) was ended slightly below 0.236 retracement against ((3)) at $19.10 low on 4/21/2021. Finally it ended ((5)) at $27.20 high on 5/28/2021 with minimum extension target. It started correcting the move against April-2020 low.
The correction started with first leg lower in impulse as ((A)), which ended at $16.67 low on 8/19/2021. The connector ((B)) was triangle as correction against ((A)), which ended at $19.57 high on 10/15/2021. While below there it expect to see further weakness in ((C)) leg lower as the part of Zig-zag correction from major top & expect to extend lower towards $9.01 or lower levels before it turn upside again. Alternatively if it breaks above $19.57 high without making lower low sequence, then it can extend ((B)) in an expanded flat correction before turning lower again.
Funko, Inc. ( FNKO ) is a pop culture consumer products company, which designs, sources & distributes the licensed products across the globe. It trades under FNKO ticker at Nasdaq.
Since 2017 in daily, FNKO made all time low at $3.12 during sell off across the global markets in early last year. Thereafter it started the higher high sequence as an impulse, which favored ended at 5/28/2021 high. And below May-2021 high, it is correcting the cycle against April-2020 low in proposed Zigzag structure.
FNKO – Elliott Wave View on Daily chart:
In daily, it started impulse sequence as wave ((1)) from 4/03/2020 low & ended at $7.78 on 6/08/2020 high. The ((2)) was dip correction as usual & ended at $4.72 low on 7/09/2020. Above $4.72 low, it started explosive move after a sideways consolidation & break out as ((3)) extension, which ended at $25.07 high on 4/01/2021.
Thereafter ((4)) was ended slightly below 0.236 retracement against ((3)) at $19.10 low on 4/21/2021. Finally it ended ((5)) at $27.20 high on 5/28/2021 with minimum extension target. It started correcting the move against April-2020 low.
The correction started with first leg lower in impulse as ((A)), which ended at $16.67 low on 8/19/2021. The connector ((B)) was triangle as correction against ((A)), which ended at $19.57 high on 10/15/2021. While below there it expect to see further weakness in ((C)) leg lower as the part of Zig-zag correction from major top & expect to extend lower towards $9.01 or lower levels before it turn upside again. Alternatively if it breaks above $19.57 high without making lower low sequence, then it can extend ((B)) in an expanded flat correction before turning lower again.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.