Bullish 5 wave pattern completed from Jun 13th to Jul 10th
Corrective wave is still forming; A & B are complete, C is still in the processes. Prices should drop to at least the Fib 1.382 at $52.40 by Aug 8 to 12, signified by box C: Next possible target at Fib 1.618 is $51
At this point if all goes as planned, we should see a head & shoulders pattern form and continue the upward trend.
If price drops below $50.60, $48 is the next probable target and this isn't an A-B-C pattern but a new 5 wave downtrend. I think it's unlikely.
Corrective wave is still forming; A & B are complete, C is still in the processes. Prices should drop to at least the Fib 1.382 at $52.40 by Aug 8 to 12, signified by box C: Next possible target at Fib 1.618 is $51
At this point if all goes as planned, we should see a head & shoulders pattern form and continue the upward trend.
If price drops below $50.60, $48 is the next probable target and this isn't an A-B-C pattern but a new 5 wave downtrend. I think it's unlikely.
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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.