just a quick new count on $PTON weekly chart with a pitchfork overlain on it. Its lookin like a nested 1-2-1-2 if it holds the golden zone bounce. If this count is accurate, we could see 250+ by end of June.
After the 3 move correction ending in Oct, AMD made a 5 wave impulsive structure followed by another 3 wave corrective structure that seems to have bounced in the golden zone (between 61.8% and 78.6%) This could be the wave 3 of the new impulsive structure which began after the previous impulsive structure ended in Sept. Will watch this one closely to see how...
Bullish Thesis - Wave 5 of 5 - "W3 projection" for wave 5 target has confluence with Wave 5 50%-61.8% fib levels (blue) - RSI at uptrend line - Stoch RSI is double bottoming, like March-April 2020, right before Wave 3 began - Momentum is trending upward since Wave 4 bottom on Sept 22-24 - Ichimoku cloud is still showing green and expanding - Price is at the...
Some rough EW projections, looks to be completing a wave 2 of 3....in other words, if we see it drop to 14.90, it'll be a nested 1-2-1-2. I would grab some from 16.25 to 14.90 and ride it to 22.75 at least.
Some basic EW and pitchforks show PTON heading up to 200+. Its currently at the 10 EMA on the weekly and the 50 EMA on the daily chart, and nearing the bottom of the pitchfork.
Apple is on its way to complete the final impulsive wave of the current cycle which began in Nov, after 2 months of correction between Sept 02 and Nov 02. As the chart shows, we've been following a perfect Elliot wave path of the primary cycle (in white) with wave 2 retracing almost exactly to the 0.618 and wave 3 extending almost exactly to the 1.618 to reach...
I have 2 possible counts for Nike. The first count in blue indicates is an extended W3 to the 2.618 level with a current W4 in progress. We are right around the 23.6 retracement for W4. A shallow W4 retracement makes sense due to our extended W3, and the RSI and Stoch RSI on the daily chart are both oversold. This setup looks primed for a reversal to finish a W5...
BABA will head to $274 to complete wave 3 followed by a retrace to $255 for wave 4 and finally a push to the median of the pitchfork for a wave 5 at $299
The weekly EW count on SPY from the march lows indicates we are nearing the top of this cycle. As long as we hold the 10 EMA on the weekly (which corresponds with the 50 EMA on the daily) we should see a final push just past 400 and then a correction in late feb to early march.
$BBY looks like its completed W3 at the 2.618 extension after a really deep W2 that nearly retraced 100%. Its also hit the 1.786 extension on the FibFork. This along with the Stoch RSI and RSI being extremely over bought, it looks ready for a W4 move down. Because it such a deep W2 and an extended W3, i think it will have a shorter W4, not retracing fully to the...
DDOG looks to be in a 1-2-1-2-1-2 setup, getting ready to launch. Targets are $140, $155 and $185 by mid to late summer (june to july)
The previous count was invalidated when wave 2 retraced beyond wave 1. This looks more like a WXY double correction. Double corrections are 3-1-3 waves where the W and Y waves are ABC corrections, and the X wave is a 5-3-5 zigzag. With the large price fluctuations after IPO, this sort of prolonged consolidation makes sense. If we are finally breaking this...
Looking for RKT to start its wave 3 later this week (jan 5th or 6th) and run up to $25 by end of January. If my time targets are off, this run up could take as long as mid February. After that there doesn't seem to be too much up side in the short term. In in shares at $20.57 and will look to exit at $25
BULL CASE Main Points: 1) MACD is crossing bullish 2) Equal legs target of wave A falls right where we bounced off, indicating the end of the 3-3-5 ABC correction 3) The uptrend from the Dec 24 low has retraced just above the 0.618 level indicating a wave 2 completion. 4) The next 3 projections (W3, W4 and W5) for this impulse wave land at previous...
BEAR CASE Main Points: 1) Stoch RSI is nearing overbought 2) ABC correction = 3-3-5 Flat 3) 0.786 retracement of previous full wave = 201 4) Equal legs target of Wave A = Wave C = 214.50 (exceeded) 5) previous support level @ 203 6) confluence of previous support and fib resistance levels at 200-205 Inference: $BABA is in a downtrend wave 5 which will complete...
This is basically the same setup i posted last night (early this morning) but fine tuned with an Inside Pitchfork instead of a Modified Schiff. I've also tried to math the EW targets with the fib time targets and the pitchfork targets. That is to say, i've tried to get a confluence of all 3 types of analysis and reorganized my elliot wave path to land where these...
Apple is consolidating in a wave 4 after reaching just beyond the 1.618 extension and getting rejected off the 0.5 band of the pitchfork. It could continue to fall to $128 but could find support at $130-$131 where it has found support previously, just before Xmas. Regardless, it is getting ready to push off again to complete the last leg of the impulse wave it...
Plantir is undergoing a long consolidation and is just reaching the 0.786 retracement of the intermediate cycle (in blue). If it bounces here and breaks above $25, it will confirm the new uptrend and the target for the intermediate wave 3 will be around $39-$40. Im expecting this move to take a few weeks, hopefully between jan 15-20. If the intermediate wave 3...