Likely completed 3-3-5 correction from ATH, but Does the bounce from 7.47 to 8.71 qualify as a leading diagonal? Hard to tell if they are all zig Zags or not on the 5 & 15min tf. Looking very bullish on longer timeframes. Failed to tap median line of the Andrews' pitchfork and upper warning line is now shown as support. Tapped the bottom of the channel in the final impulse down. Daily rsi breakout from trendline and multiple bull divs. Bull div on weekly and monthly rsi. You would think it would just be another sideways correction before more continuation but imo difficult to rule out a leading diag on the 5 or 15m from 7.47 to 8.71. If not, can someone explain how this is an extended 5th? Wave 5 cannot exceed length of 3 at 4.15.
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I dont think my count is right so other perspectives would be appreciated
Trade active
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Many thanks to Deus and veejahbee for insights on possible counts. Completed 5th ending diag within a larger leading diag from 22 down. ~14 target expecting 3 wave structure coming back up to complete B in 2-3 months. ibb.co/1qwR4zJ
So I think your thesis was the victim of tax-selling powered by short selling inspired by the NFLX/streamers thesis PARANBCDIS ROKU. BUT, I agree with you on the fundamental story, this is a very oversold stock, and it's not going out of business, it makes money and it has a big dividend (even if they cut it in half). It just needs new shareholders, and I think it will get them. The December flush kept coming until it didn't, this week. Call activity up and selling seemed to stop.
Please revisit your charting analysis in light of the changes this week.
Drunkmonk
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@counsellorvasquez, chart update with many thanks to Veejahbee ibb.co/1qwR4zJ updated count here this makes much more sense now. Finished the ending diagonal in the 5th within a much larger leading diagonal from $22 down to complete A within Y. ~$14 target on this bounce but will see how it goes coming back up then can draw more fibs and channels and look for better confluence.
Please revisit your charting analysis in light of the changes this week.