SUZLON ENERGY:
The stock has confirmed that it is in its 3rd miner wave. The stock has crossed its base channel and now is in its acceleration channel. This chart is a log chart. The price may move further towards 60 then further.
This is not a buy sell recommendation, please consult your financial adviser for any investment.
Regards.
This is my first pass at a wave-count for the correction. This wave-count has an ABC correction in progress with a ~$42k low in mid to late December. It assumes that support by the 50WMA (Red) forces price into a triangle which ultimately breaks to find support at a confluence of a strong S/R level and macro 38.2% retracement.
Candidate bearish Base established. Near-term corrective rally to ~$4628 followed by a bearish impulse for wave 3. A move above $4775 invalidates this wave-count..
Support @ the 50 week moving average (Red), 88% retracement and bullish RSI divergence at the bottom of a candidate Base channel give me very high confidence that DOGE is ready to rally any time..
The analysis is as follows.
If you have followed my past analysis, you would see that I have called the top for this being the 3.414-3.618 area which we have hit.
My past idea that the wave 4 was what I had previously labeled is correct.
Currently we are in a channel, meaning that the move downwards hasn't yet been confirmed, although I think the double top we...
In this analysis, I will be discussing the possible short opportunity in the CHFHKD Pair.
It appears to me that the greater trend has been completed, and we an a,b,c correction take place.
My first reason supporting this is that we have broken out of the trendline for the greater impulse structure and rejected it before sharply moving downwards.
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