$MVIS presents a compelling buy opportunity, poised for a potential Wave (3) (blue) after a Wave (2) (blue) retracement that hit roughly the 61.8% Fibonacci level of Wave (1) (blue). This Wave (1) (blue) appears to be part of a larger impulse Wave ((1)) (pink), which could target around $20, the 61.8% extension of Wave I (green) not far off the April 2021 top.
Alternatively, a previously discussed long-term ABC (green) zigzag pattern (not shown in the current chart) offers a more bullish short-term outlook. In this scenario, MVIS could break above the April 2021 high, potentially reaching a 100% extension near $146.
However, this zigzag would likely result in a shorter, more fleeting trade compared to the sustained potential of the impulse wave scenario.