Possible stop under C.
ABC are measured move downs within a larger measured move up.
AB is the impulse leg, so you look for a long leg up and place A at the bottom of that leg. Sometimes point A is clear, other times you have to be flexible.
Targets are based on the length of the AB leg using fib levels. D is the target and as a rule, you can expect a pull back to occur at D. C can not be beow A, and can mean you are looking at a possible double bottom, triple bottom or another formation. Sometimes AB will equal CD, but not always by a long shot. It can be a percentage of AB.
If price goes below point C, then your stop should kick in. Mybe give your stop a few cents below C so Mr Market doesn't find it (o:
Earnings 5-4 AMC
No recommendation
ABC are measured move downs within a larger measured move up.
AB is the impulse leg, so you look for a long leg up and place A at the bottom of that leg. Sometimes point A is clear, other times you have to be flexible.
Targets are based on the length of the AB leg using fib levels. D is the target and as a rule, you can expect a pull back to occur at D. C can not be beow A, and can mean you are looking at a possible double bottom, triple bottom or another formation. Sometimes AB will equal CD, but not always by a long shot. It can be a percentage of AB.
If price goes below point C, then your stop should kick in. Mybe give your stop a few cents below C so Mr Market doesn't find it (o:
Earnings 5-4 AMC
No recommendation