With the crash of JWN, it has completed the formation of the right shoulder for an inverse head and shoulders.
Wait and see if prices break below the support of the right shoulder, if it rebounds, there is high probability of an inverse head and shoulders pattern formation being completed.
Using Fibonacci Lines and 5 wave elliott wave analysis and looking at the uptrend as seen in the parallel channel, i think prices will be moving down to the 35.9-36.00 area first before continuing up.
Any break below 35.9-36.00 and we might see prices moving to lower supports.
BRK.B is now in parallel uptrend, and we can see that the channel provides a reasonable form of resistance and support.
Following this, I expect BRK.B to fall to 207.90 by 12th Jan 2021 after hitting resistance at the 235.23 area.
From there, I believe we will either see a break out in prices downside to 191.07 using Fibonacci Extension lines or it will hit...
Update on the GLUU move down, in my opinion, price is currently moving on the third wave down this corrective wave (red). If third wave is broken down into 3 waves, I see the 3rd wave being broken down into a 5 wave compulsive waves moving downwards (blue). Currently, the 4th wave of the blue wave is at the 0.382 retracement of the previous wave 2 and 3, and I am...
Late post : I have actually been tracking this stock since last week. It looks like it is making a 3 move wave down to $7.52, which is a support from 4th wave of the previous 5-wave move upwards
Predicting a SHS candle movement, waiting for price to move down to $6.20 before making its way up to $7.16 to form the second shoulder of the SHS pattern and then retracing down. Price chart movement might also be following a 5-3-5 Elliot wave price movement
Currently waiting to see if price holds support at $24.05 level. If so, we might see prices moving up to $26.50 to form the right shoulder of the pattern before moving down again. If it breaks support, price might move to the next support at $23.50 and below.
As seen in the chart, I am predicting NOK to move down towards $3.34 before moving up again forming the right shoulder of the pattern, $4.52 seems like a resistance for NOK to move back down from. However, I am unsure of the time frame and duration it will take for NOK back to that price. Please put your comments below for me.
As seen in the charts, i am expecting a 3 move corrective wave downwards within the channel towards $15.23, which is also the support for the 2nd wave in the previous 5 move impulse wave, as well as the resistance for the first wave move in the first set of impulse waves. The only scenario that will deny this expectation is if price breaks out from the current...
Looking at the current 15min TF, it seems like VTIQ has completed its 4th wave down and I expect it to move up to complete the 5th wave before retracing again.
Using Fibonacci extensions from end of 2nd wave to end of 3rd wave, I expect price to move to $32 range by the end of 5th wave with a ratio of 1.272:1, where I believe it will show prices hitting resistance...
