It is an uptrend with a major correction done. A test of the Kijun Sen seems likely. More up towards the upper trend line is possible, of course.
Tesla fluctuates well up within the pitchfork. As it came back and closed the downgap the way should be open for a rise toward the median line again.This is backed by an MACD signal and the crossing of the EMA 20.
We formed a new high today and that's why I assume that the D-wave will be completed at 150.
With the overall volatility slightly increasing it looks like the coorection of PHH is over and a test of the March high becoming possible. Supportive: The Kijun Sen has been overcome.
With the positive divergence in MACD the turnaround and the overcoming of the Kijun Sen shall be a matter of time.
Strong development for half a year. If the overall market shall be mor convinced to be rising now, MNK should profit more than everage.
After 2 intermdiate corrections QCOR shall complete its D-wave till 103.
I don't expect to much here but a retracement from the lower channel line seems probable.
We are bound for a backtest of the median line. The bottom line and the 68% retracement held and the engulfing pattern 3 days ago confirmed the possible upturn.
A breakthrough through the Pitchfork resistance and the Tenkan Sen as well, indicates a further fall to the median line.
It's not a new setup but as I'm already long for a while and just took the half of the profit, I think that it's worth to retain the other half of the postion. The upward trend is still very safe and the latest green candle is not an inverted hammer as the body is to long. A new intermediate high has been built and so I consider it rather a trend continuation...
Along this green Boardwalk we could walk as far as 20 in the next couple of weeks.
Since past August this level had been tested several times. I think that it's worth to look for a retracement down.
As described in the chart linked we have reached the expected retracement level and can follow the interimistic upward tendency again to see target B.