Base on the Cycle wave count of the Elliott wave, the market might be heading for an ABC correction. As such, I'm Bullish for now. But only for a short while. As you can see that the current 5 waves broke the low of the the previous bullish rally and as such, i believe that the current bearish 5 waves down are the leading waves.
Starhub has been on a downward trend and the current 3rd wave is yet to complete as indicated by the Fibonacci extension. Once the market hit 1.22 region highlighted in the chart, a short bullish correction might happen. So stay tunne
Starhub could be forming a double/triple bottom. However this is a risky Long and SL should be kept tight just a few cts below support at 1.60. This could be a slow trade even if right. Am not expecting to see good momentum until it can recover a fair bit higher.
Cup and handle formation or seeing what I want to see?
Long in the short term regardless - the gap down today was uncalled for, has panic sell down written all over
The momentum is Starhub is just too bearish. Now, it is at the weak support of $2.50
I am expecting it can go down a lot lower.
It should easily go to $2.15.
It is sort of late for short but do not catch the falling knife by going long.
Trade Safe
s0nic
Disclaimer:
The information contained in this presentation is solely for educational purposes and...
Price seems to be slowing down.
Once 2.8 broken, we can easily see it reaches the next support at 2.74
Disclaimer:
The information contained in this presentation is solely for educational purposes and does not constitute investment advice.
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