Avalon Technologies is showing a clear bullish Elliott Wave structure on the daily chart. The stock appears to have completed Wave (4) near 1,629 and is now progressing into Wave (5). Price is holding above the rising trendline and the 50 EMA, keeping the overall structure positive. The recent move above the previous swing area also supports the idea that bullish momentum is returning.
As long as the broader rising structure remains intact, Wave (5) can continue higher. The Fibonacci projection zone around 2,150 - 2,465 becomes the broader area to watch for a possible Wave (5) completion. A sustained move above the recent high would strengthen the bullish view, while a clear break below the rising structure would weaken the current Elliott Wave count.
By BrightRally_Research on TradingView
As long as the broader rising structure remains intact, Wave (5) can continue higher. The Fibonacci projection zone around 2,150 - 2,465 becomes the broader area to watch for a possible Wave (5) completion. A sustained move above the recent high would strengthen the bullish view, while a clear break below the rising structure would weaken the current Elliott Wave count.
By BrightRally_Research on TradingView
Trade active
19% Gain within a week!
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.