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Apr 10, 2014 7:54 PM

What about utility stocks? Gann Fibonacci Elliott Wave Forecast Short

Pacific Gas & Electric Co.NYSE

Description

After forming a double top base around $45, a A-B-C Elliott wave retracement has been in an expanding range. Ultimately the bearish price divergence indicate the swing downtrend is continuing. If that occurs, the next target, and likely forecast resistance area, is between $43 and $42 (0.5-0.61 fibonacci) in 30 days - Gann time
Comments
PranavShandilya
Your 'B' wave is overlapping with the 'A' wave.. you should recount the waves at that time.. Also, the B wave usually only retraces by 50% of wave A. So your Elliott wave counting is wrong.
BasedDeptGeneral
@PranavShandilya, EW's are a meme anyway...
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