Wave 1: Initiation of Uptrend
IDT's price began a notable ascent from approximately $47.10, reaching around $58.77. This movement likely represents Wave 1, characterized by an initial bullish impulse.
Wave 2: Corrective Pullback
Following the initial surge, the stock experienced a retracement to the $45.67–$47.23 range. This pullback aligns with Wave 2, a corrective phase typically retracing a portion of Wave 1's advance.
Wave 3: Strong Upward Movement
The subsequent rally propelled IDT to a recent high of $68.62, marking a significant gain. Wave 3 is often the most powerful in the Elliott Wave sequence, and this movement fits that profile.
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Wave 4: Anticipated Consolidation
Given the substantial rise, a corrective Wave 4 may ensue, potentially bringing the price back to support levels around $53.31 or lower. This phase would serve as a consolidation before the final upward push.
Wave 5: Final Leg of the Uptrend
Should the pattern continue, Wave 5 could drive the stock to new highs, possibly testing or exceeding the $70–$75 range, completing the five-wave cycle.
IDT's price began a notable ascent from approximately $47.10, reaching around $58.77. This movement likely represents Wave 1, characterized by an initial bullish impulse.
Wave 2: Corrective Pullback
Following the initial surge, the stock experienced a retracement to the $45.67–$47.23 range. This pullback aligns with Wave 2, a corrective phase typically retracing a portion of Wave 1's advance.
Wave 3: Strong Upward Movement
The subsequent rally propelled IDT to a recent high of $68.62, marking a significant gain. Wave 3 is often the most powerful in the Elliott Wave sequence, and this movement fits that profile.
reddit.com
+1
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Wave 4: Anticipated Consolidation
Given the substantial rise, a corrective Wave 4 may ensue, potentially bringing the price back to support levels around $53.31 or lower. This phase would serve as a consolidation before the final upward push.
Wave 5: Final Leg of the Uptrend
Should the pattern continue, Wave 5 could drive the stock to new highs, possibly testing or exceeding the $70–$75 range, completing the five-wave cycle.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.