A movement above 23.40 will be 5 small waves from 21.85 E wave low, until then there are only 3 waves up.
pechi123
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Ideally wave E of a bullish triangle ended at 21.85, 20 cents above C low 21.65. If correct the move up should be impulsive thrusting up to new highs in a 5th wave but a terminal move that'll eventually return to these levels or lower. The first obstacle is the day's high then coming above the gap down. Falling below 21.65 would be problematical to this view and may mean that wave A low 19.60 will be violated and another pattern is in effect. Coming above wave B high $26.92 would be a good sign that it's headed to new highs.
S20MuInv
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You nailed it
FBEE
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Completely agree with you. This is a panic buy and it's going to cool off.