joeburridge
Short

Short RE for continuation lower

NYSE:RE   EVEREST RE GROUP
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This 60m chart of RE looks like a textbook Elliott Wave impulse lower. The deep, zig-zag correction in Wave 2 is followed by an extended Wave 3, with clear sub-division into five smaller waves. I believe the stock is now in a sideways Wave 4 correction which should resolve lower over the next month. Initiating a short position with an immediate target at 220. I will likely add to the position on rallies into 235.
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