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CIBR Cybersecurity: M-pattern may retest 0.618 pivot near 34

First Trust NASDAQ Cybersecurity ETF (NASDAQ:CIBR)  
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NASDAQ:CIBR   First Trust NASDAQ Cybersecurity ETF
Harmonic Patterns Technical Indicators Fundamental Analysis CIBR cybersecurity
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harmonicpatterns indicator fundamental cibr cybersecurity
CIBR seems to be making a M-pattern & is now at 39, a 50% retracement. If the yellow zone does not hold 39, then the next will be the 0.618 pivot support at 34 which is also a 200% retracement of the latest rally.
34 is also located near the base of my slanted FIB CHANNEL. 34 may be the bottom of the ABC correction & the start of a new 5 wave uptrend inside this FIB CHANNEL.
After this correction, Cybersecurity & Defense stocks should do well in these times of geo-political unrest.
Not trading advice
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