On a high timeframe, the stock is impulsing. However, on a low timeframe, it is correcting. These corrective waves are indicated by the X wave (WXY) followed by an ABC wave. What comes next will either be an impulse wave or extended correction.
Even though these corrective waves are going upwards, they are not impulsive. An impulse wave is much faster, stronger and straighter. The good news is that the stock is bullish on the back of a positive earnings report. This means the next wave will likely be an impulse wave, but we can never be too sure with such an unpredictable market.
Even though these corrective waves are going upwards, they are not impulsive. An impulse wave is much faster, stronger and straighter. The good news is that the stock is bullish on the back of a positive earnings report. This means the next wave will likely be an impulse wave, but we can never be too sure with such an unpredictable market.
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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.
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.