I generally do not plot Stocks, but this one is too pretty. Plotted are two different fib series, and their confluences. Momentum says $160 easy next target, and likely pullback.
Drag DOWN on the PRICE scale to see levels above/below. Drag RIGHT on the TIME scale to see more fib history. Hit "Make it Mine" under SHARING for your own copy.
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Comment
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Here we are!
Just hit the major Golden fib at 159.11
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Zoom IN (1 hour) with fib added for last wave up from 139.20 The local fib's Golden level was also lined up at 159. So this break shows a LOT of strength to break both fibs.
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Zoom MORE (15 min) with only the local fib shown Clear recognition of the Golden levels of this fib. Confirms wave velocity INCREASING but in a CONTROLLED manner. The 11.089 fib could have ended this wave, and it tried as we will see next.
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Zoom WAY in (1 min) for a closer look at the major threshold just crossed Clearly the local golden (thin line) and Major golden (thick) were acknowledged. That is VERY IMPORTANT that we got confirmation of those fibs before break. So now we look for a RETEST and hopefully get another confirmation of the fibs.
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SUMMARY: - First Major target (159) confirmed and pierced. - Price action showing serious momentum building. - Journey to next major target (200) underway. - BUT looking for a retest of 159.11 major fib
I was not presenting a trade plan as much as a road map, but certainly tradeable.
If a long entry was planned, it would be on break thru resistance zone around $136.
And then I would be concerned until break of next resistance around $145.