This is an Elliot Wave projection suggesting we've just completed Wave 2 of a standard 5 Up formation.
Possible Wave 2 targets ($CAD): 8.88, 10, 11.65, 16
Possible Wave 5 targets: 11, 13.37 14.59, 20
The MACD is turning up with a bullish divergence shown in yellow.
NOTE This analysis is akin to random guessing and finger painting. These price targets and predictions are in no way intended as finacial advices.
If you want to be independently financially, we recommend education as the first and foremost step in your journey.
- Wave 2 is often a 0.5 or 0.618 pullback on Wave 1.
- Wave 3 is often related to Wave 1 by 1:1, 1:1.618, or 1:2.618 (don't ask me why).
- Wave 4 often pulls back to the .382 of Wave 3.
- Wave 5 is least reliable and may replicate Wave 1 when Wave 3 extends, or extend to the 1.618 if Wave 3 replicates Wave 1 (again, dont ask me to explain this woo woo theory).
Possible Wave 2 targets ($CAD): 8.88, 10, 11.65, 16
Possible Wave 5 targets: 11, 13.37 14.59, 20
The MACD is turning up with a bullish divergence shown in yellow.
NOTE This analysis is akin to random guessing and finger painting. These price targets and predictions are in no way intended as finacial advices.
If you want to be independently financially, we recommend education as the first and foremost step in your journey.
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Comment:
According to my read, the daily bottom is in at $4.20 and $6 is the next resistance area, which we will reach within 1 week.
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