5' Wolfe wave potential pattern. Sits on key support rising Wedge 5/9/13 uptrend_line and rising 200 sma. Oversold Bounce is possible, from current price within Wedge. Diagonal Line(potential profit target) not crossing 4 point, but front-run a bit higher on multiple rejections, convergence with 3 point diagonal and Channel upper bound. 1-4 Line, crossing Channel lower bound potential projection at 57.70. Vs S&P500 breaking down. OBV weak, lower horizontal level.
Short order, at breakout at price 65.89 Stop is put bit higher above trend_line to consider a bounce rally to the underbelly of the pattern.
Setup is in place for a specific period of time. Readjusting IF and when price breaks down from Wedge.
Targets : 65.06 61.90
Comments
rv
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Earnings dates have coincided with some Waves. ( peaks or troughs )
1/8 Earnings are out, and this could cause more volatility. Estimate 0.61$
52wk Range: 56.36 - 70.71
1/8 Earnings are out, and this could cause more volatility. Estimate 0.61$
52wk Range: 56.36 - 70.71