18th Apr
As the Primary wave 3 developed, it offers two possible alternate counts worth consideration.
1. That it has completed Major wave 1 & 2 and it is progressing in Major 3 with sub wave 2 in progress. The sub Wave 2 correction till 38.2% gives support at 1438 and at 50% near wave 4 ie 1340. I would prefer the 50% correction as it matches with broader wave principles.
2. That possibly the stock is progressing in extensions of Major wave 5. The ABC extension from end of wave 4 (Pink) ended near 138% of wave A. That would mean correction of ABC at 61.8% is at 1457.
Weekly Chart
Given this, longs can be initiated near 1450 with strict stop below 1425 for long term investment.
Once confirmed which count is operating further targets can be judged. If stopped out wait till 1350 for next opportunity.
There is a super bullish count apart from these 2 counts but for now that is not under active consideration but should some signs/patterns emerge supporting that count then would discuss on that count.
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Stock broke out today and confirmed my view of sharper wave 3 combo playing out.
Wave count is extremely bullish.
Super Cycle 3
Cycle 3
Primary 3
More details in later posts but suffice to say that this could turn out a long term investors delight. Wave 3 Primary minimum target is pegged near 2400 but most probably that target will be surpassed for Cycle degree minimum target of 2800+
Here is monthly chart
If not invested yet choose an entry in one of the corrections in lower degree moves.
As the Primary wave 3 developed, it offers two possible alternate counts worth consideration.
1. That it has completed Major wave 1 & 2 and it is progressing in Major 3 with sub wave 2 in progress. The sub Wave 2 correction till 38.2% gives support at 1438 and at 50% near wave 4 ie 1340. I would prefer the 50% correction as it matches with broader wave principles.
2. That possibly the stock is progressing in extensions of Major wave 5. The ABC extension from end of wave 4 (Pink) ended near 138% of wave A. That would mean correction of ABC at 61.8% is at 1457.
Weekly Chart
Given this, longs can be initiated near 1450 with strict stop below 1425 for long term investment.
Once confirmed which count is operating further targets can be judged. If stopped out wait till 1350 for next opportunity.
There is a super bullish count apart from these 2 counts but for now that is not under active consideration but should some signs/patterns emerge supporting that count then would discuss on that count.
xxxxxxxx
Stock broke out today and confirmed my view of sharper wave 3 combo playing out.
Wave count is extremely bullish.
Super Cycle 3
Cycle 3
Primary 3
More details in later posts but suffice to say that this could turn out a long term investors delight. Wave 3 Primary minimum target is pegged near 2400 but most probably that target will be surpassed for Cycle degree minimum target of 2800+
Here is monthly chart
If not invested yet choose an entry in one of the corrections in lower degree moves.
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