$CORZ / 2hThe strong rally by 34% in NASDAQ:CORZ indicates turning the trend to the upward, as anticipated on Friday last week. And it's expected now, in retracement of 61.8% in an expanded flat correction as Minor degree wave B the countertrend rally in its wave ((c)) will continue to rising towards 14.88!
Expanded Flat >> Quiet often, wave C ends more substantially beyond the ending level of
wave A, as illustrated well on this case.
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CORZ trade ideas
$CORZ / HourlyThe sharp selloff in NASDAQ:CORZ today, as the anticipated decline in an impulsive wave (c) should be likely an ending of entire correction in wave b(circled).
And also the wave structure of one larger degree trend implies to turning to uptrend that might be starting as early as next week.
Fib expansion targets >> 14.88 >> 16.42
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$CORZ / HourlyThe retracing up as Minor degree wave B could be considered in a formation, as shown on this hourly frame.
Today, continuing to decline in NASDAQ:CORZ , would suggest the wave b(circled) to morph into a zigzag correction instead the triangle pattern that be failed now. So the Minute degree wave b(circled) in a zigzag remains in its late stage, and the entire wave structure implies to closing the week with one more decline. The expected target might be around 11.34.
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$CORZ / HourlyThere is no change in the NASDAQ:CORZ 's trend & pattern analysis. As shown in the hourly frame, the triangle's wave d achieved the Fibo 0.618 expansion target at 12.78 then exceeded as well anticipated and today wave e have been searching for its extreme low surrounding the Fibo 0.618 expansion level as well. (target >> 12.04)
>>> As an alternate pattern in wave e, that might be unfolded itself in a triangle. So that the entire pattern protracts into 9 waves triangle as well. And so the possible extending correction in wave ((b)) would be likely taken more time to the next week.
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$CORZ / 3hA retracement of 61.8% to 78.6% in an a-Triangle b-c formation is in progress as Minor degree wave B. And Its Minute degree wave ((b)) seems to be expanding well in a triangle pattern in sideways.
Next week >> the triangle's wave d would achieve the Fib 0.618 expansion target at 12.78 (might be exceed it), then will be followed by a decline(.618 wave c) in wave e.
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$CORZ / 3hUnfolding the contracting waves in sideways would well suggest the wave ((a)) in an initial impulsive wave of retracing up in wave B could have ended at 13.11.
So the correction in triangle wave ((b)) would be likely in progress over the next week.
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$CORZ / 3hA retracement of 61.8% to 78.6% in a zigzag correction as wave B would be still in progress over the few weeks ahead.
>> Fib targets marked on the chart.
The Minute degree wave ((a)) seems could be over, and correction in the same degree wave((b)) in a flat or triangle pattern is likely in progress. If it would be a flat formation, a decline of 5% is expected this week.
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$CORZ / 1hNASDAQ:CORZ declined in its fifth wave today, as expected on the ElliottChart's frames!
So 10.51 should be well as an extreme point of the entire leading diagonal pattern as Minor degree wave A which would be followed by retracement of 50% or 61.8% in a corrective pattern as the same degree wave B (that I'd like to depict it on the next frame).
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$CORZ / 3hNASDAQ:CORZ
The flat correction in wave ((iv)) is almost done. Its target could be just exceeding 15.48 level.
After that decline of wave ((v)) is well expected to completely taking shape the diagonal pattern as wave A.
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$CORZ / 1hNASDAQ:CORZ
On the leading diagonal wave A, its fourth wave correction looks to be ending diagonally on its wave c UP. After that decline of Minute degree wave ((v)) would be expected.
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$CORZ / 1H ChartNASDAQ:CORZ
A Possible Leading Diagonal As Wave A
Correcting down in wave A looks well to taking shape in an expanding diagonal which Its fourth wave is still in progress.. then it will likely be followed by decline of its fifth wave in Minute degree.
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$CORZ / 3H ChartNASDAQ:CORZ in hourly frames,
Decline of Minor degree wave A looks to be taking shape in an expanded leading diagonal.
This possible pattern just would be as the first segment of entire correction in ongoing wave(2).
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