Lot's going on here. Uptrend Elliot wave, stepping up, consolidate and repeat. Here I've listed today as the end of the third leg or second correction however if we continue sideways, a pennant completes on Monday the 28th (4a).
Elliot wave theory states that, "If Wave 2 is sideways, Wave 4 will be sharp." Here we see wave 4 was a much sharper correction than wave 2, lending towards todays decline as the end of the 4th leg and tomorrow beginning the 5th. Also, the rise in wave one is equal to the rise in wave 5. There was a .50 rise in the first wave, so the fifth wave could take us close to the 2$ mark.
Plenty of uptrend support in the 1.29-1.32 area in the coming days, if it can maintain the purple trend line support the 50 Day SMA will be held by Wednesday.
Elliot wave theory states that, "If Wave 2 is sideways, Wave 4 will be sharp." Here we see wave 4 was a much sharper correction than wave 2, lending towards todays decline as the end of the 4th leg and tomorrow beginning the 5th. Also, the rise in wave one is equal to the rise in wave 5. There was a .50 rise in the first wave, so the fifth wave could take us close to the 2$ mark.
Plenty of uptrend support in the 1.29-1.32 area in the coming days, if it can maintain the purple trend line support the 50 Day SMA will be held by Wednesday.