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.

This article was originally published by Fxstreet.com.Read the original article here.

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