My count is disproportionate and wave 3 in (3) is not the smallest only on log scale. However, there are chances that the stock has reversed its trend.
Zigzag correction off the top might be done and I outlined a couple of leading diagonal scenarios that might play out.
What I really like is wave (C) sharp movement which raises chances that we've bottomed.
Alternative option is that the bottom to be seen later if $35 breaks.
I'd say that the stock needs to find support above $51 during this year and we have good chances to prosper.
Zigzag correction off the top might be done and I outlined a couple of leading diagonal scenarios that might play out.
What I really like is wave (C) sharp movement which raises chances that we've bottomed.
Alternative option is that the bottom to be seen later if $35 breaks.
I'd say that the stock needs to find support above $51 during this year and we have good chances to prosper.
Trade active
We are now right below the resistance and above the trend line. Next move will obviously be connected to tomorrow's earnings. I expect it to go up to $68 to fill the gap as start of wave 3 in 3 per the following count I have
SL and invalidation of this count is at $40.95.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.