RS3175

RS3175

After an A-B-C Corrective Wave (red coloured wave), GILD is forming a 1-2-3-4-5 Motive Wave (green coloured wave). Presently, 4th corrective wave (yellow coloured wave) of this Motive Wave is under progress. 4th wave can be a triangle (3-3-3-3-3) as is the case here. Within this triangle, each of the five waves has a three wave pattern. There is a gap below...

RS3175

SPX is now completing the 4th corrective wave of 1-2-3-4-5 Elliott Motive Wave which started in October 2022. In the 4th corrective wave, 1-2-3 waves have formed and waves 4 and 5 will complete the contracting triangle formation. Thereafter, the 5th impulse wave will begin. The 5th impulse wave is between inverse 100 to 161.8 percent of wave 4. This is in the...

RS3175 Updated 

GOOG's situation looks very precarious. May go down to 100. Huge bearish bat pattern on GOOG. Rising Wedge too narrow at the top. Two gaps below waiting to be filled.

RS3175 Updated 

PWR is a strong stock. It has been consolidating in a rectangular formation in the last one month. It will test the all time high of 205, go below rectangle and then reach 220 by year end.

RS3175

Monthly chart on META META has been on a bull run for a year. Take a look at the Heikin Ashi green candles in the uptrend. Not one red candle. META is now showing first signs of weakness. In last two months, candles formed lower highs. A huge AB=CD pattern is nearly complete. META to make one run up to 360 before going down to 280 and then to 200 levels.

RS3175 Updated 

THC is just above 100 EMA. RSI is 35. According to Squeeze Momentum indicator, bearish momentum is slowing down. In the past, THC has bounced from about 30 RSI. The likely scenario this time is that it may reach 70 and then start its movement upwards.

RS3175 Updated 

JNPR is in a W formation, heading towards POS. If the market remains bearish, JNPR may descend to approx. 26 or go up to the next resistance level of 30.

RS3175 Updated 

DFS is now at a strong support level. It has started to consolidate. Consolidation may be from several days to several weeks before DFS has a breakout. In the unlikely case if DFS has a breakdown from the current 88 support level, it will go all the way down to the next support level of 67.

RS3175

In the last few days, BDX has tested the resistance-turned-support level several times and bounced back from it. RSI is oversold. Earlier, BDX had bounced back when RSI had reached present levels. A bullish Gartley pattern has formed. TP1 - 38.2% of AD TP2 - 61.8% of AD SL - Just below D

RS3175

A bullish Cypher pattern has formed on KMT. TP1: 38.2% of CD TP2: 61.8% of CD SL: Just below D or even slightly above since the uptrend has already begun.

RS3175

Bearish Bat on CI You can ride the journey on CD as the final leg of the bearish bat pattern completes. TP1: 88.6 % of XA when the bearish bat pattern is complete. If trend turns bearish at that point, CI can be shorted all the way down to 38.2% of AD and then to 61.8% of AD. If the uptrend continues ie. beyond TP1, the pattern will then be a crab pattern....

RS3175

A bullish Shark pattern is visible on daily chart of NWE. TP1 - 38.2% pf CD TP2 - 100% of CD SL - Just below X

RS3175

Monthly chart of FMX Bearish bat pattern is complete on FMX. Price may fall to .382 Fib level ie about 100. Thereafter, it may go to .618 Fib level ie. about 80.

RS3175

TSLA Weekly Chart TSLA was in a downward channel since November 2021 (red channel). It has been in an upward channel since January 2023 (yellow channel). Volume during the uptrend which started in January 2023 has been nearly double than during the downtrend which started in November 2021. During the downtrend, TSLA formed an equal wave (Elliott corrective...

RS3175

ASML was trading in an upward channel since November 2022. Price has broken down the lower trendline of the channel. A W pattern was in formation in August-September 2023 but ASML wasn't able to break the neckline. ASML is now at .382 retracement level. If it loses support now, next destination is .5 level - 570.

RS3175

Weekly chart of MELI (i) MELI has overcome an important resistance level around 1350. (ii) Up Channel and MELI is trading near the upper level of the channel. (iii) Resistance at 1450. (iv) Above 20/50/100/200 EMAs. (v) A bullish flag/pennant pattern may form. MELI is in a good condition to break both the channel from below and resistance of 1450, and...

RS3175

CRWD formed an inverted head and shoulder pattern in August 2023. Price broke the neckline on high volume. Thereafter, a bullish flag pattern has resulted. On 8 September 2023, CRWD broke above the high of 1 August. CRWD has broken out of the rectangular formation in which it had been trading since May 2023. Squeeze Momentum indicator has just fired (black...

RS3175

SPY Hourly Chart: I see a bearish bat pattern on SPY. SPY started an uptrend in the latter part of 6 September after a downtrend which started a week ago. This uptrend is likely to continue with a few minor downswings till third week of September when point D of the pattern is reached. SPY would then be in the range of 455-456. Thereafter, the scenario...