Hello & welcome to this analysis
From the pandemic lows made in March 2020 till date it has likely completed Wave 1, 2 & 3 and is doing a time wise (TRIANGLE) corrective wave 4.
The sub waves of 4 are suggesting "c" is ending with "d" and "e" pending before it resumes the terminal wave 5 impulse.
This is suggesting that for quite a bit of time the stock could remain range bound.
This wave count of a triangle will be invalid if current decline goes below 1547 and/or the expected bounce in wave "d" goes above 1857.
Wave 5 target could be anywhere between 2400-2500
All the best
From the pandemic lows made in March 2020 till date it has likely completed Wave 1, 2 & 3 and is doing a time wise (TRIANGLE) corrective wave 4.
The sub waves of 4 are suggesting "c" is ending with "d" and "e" pending before it resumes the terminal wave 5 impulse.
This is suggesting that for quite a bit of time the stock could remain range bound.
This wave count of a triangle will be invalid if current decline goes below 1547 and/or the expected bounce in wave "d" goes above 1857.
Wave 5 target could be anywhere between 2400-2500
All the best
Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
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Online courses on Harmonic Trading Patterns, Ichimoku & Trading Psychology Risk Management
t.co/3mGWp29Xkb
t.co/3mGWp29Xkb
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.