CAN #RIOT, #AI and #ACHR successfullly copy #SOFI SoFi Technologies (SOFI)
As shown in the chart, SOFI has rebounded from its support level (Wave 2) and has already broken above its downtrend line, indicating that it is currently in the process of Wave 3.
Wave 3 seems confirmed here as the price has broken through the descending trend line and is showing strong upward momentum. Further confirmation would be maintaining a price level above 13.83.
Riot Platforms (RIOT)
For RIOT, the chart shows that it is currently at the support area of Wave 2 and has not yet broken out.
To confirm the start of Wave 3, RIOT needs to break above the green descending trend line shown in the chart and hold above the 14.27 level (indicated as a buy point).
If it breaks this descending trend line with increased volume, it would confirm the beginning of the Wave 3 uptrend.
C3.ai (AI)
For AI, the chart shows the price is also at the low point of Wave 2, forming a descending wedge structure.
To confirm the start of Wave 3, the price needs to break above the upper trend line of this descending wedge (around 27.76) and demonstrate a strong move upwards.
Once it breaks out with notable volume, it would confirm the start of the Wave 3 trend.
Archer Aviation (ACHR)
For ACHR, the chart also shows the price is in the low area of Wave 2, consolidating within a descending trend line.
To confirm the start of Wave 3, the price needs to break above the descending trend line shown in the chart and hold above the 5.28 level.
A strong breakout above this key level with high volume would confirm the beginning of Wave 3.
Summary of Elliott Wave Theory Application: According to Elliott Wave Theory, Wave 3 is typically the most powerful wave, so it is crucial to wait for a breakout of the Wave 2 structure (usually a descending trend line) accompanied by higher volume. Once each stock breaks through the specified key levels, it would confirm the start of Wave 3, indicating a continuation of the bullish trend.
