WKHS
Possible End of Wave 2 correction (in a larger wave 5), suggesting the start of a trendy Wave 3
- The corrective wave A happened in a 5-wave move (orange) which suggests that the correction will take the form of a zig-zag pattern
-- This means that the current downtrend is part of a 3-wave move with the wave patterns of 5-3-5
--- We can expect a short uptrend after this to not rise below the previous high of $28.62, followed by a larger 5-wave downtrend that should end below the initial wave A
Anchored VWAP (White) set to last low (9/24) and the low before that (9/4)
- Price tested the line once, but bounced right off and is well above it now, indicating good market sentiment.
Wedge Pattern (Solid Green)
- Formed using previous high and low, suggests price consolidation
Declining Volume (Dotted Green)
- Peaked in 9/18, decreasing steadily since but price has maintained acceptable levels.
- Implies a bullish consolidation
Stoch RSI (Pink)
- Bullish hidden divergence suggests a continuation of an uptrend
BUY PLAN
- If goes above $26.37, PT - $27.25
- Then Short
- Catch Bottom then buy when has sufficiently retraced for trendy wave 3 (in a wave 5)
STOPLOSS - $23.59 which is the 0.618 fib retracement level of previous uptrend