A new low could be counted as a small 5th wave to end an impulse wave from 133.46, that can then setup for a bounce thereafter in 3 waves, so watch for a potential reversal from below 129.80. A bounce in 3 waves would offer a setup to sell against 133.46 stops. The trend remains down against 133.46.
Sign up here to get updates for EURJPY and 8 more pairs CLICK HERE
The strong impulsive reversal from the yearly highs appears to suggest the upside from both the 2016 lows is completed as well as the 2009 lows. The move from the 2016 can be counted as an impulse to end what I think is a much larger impulse wave that started from the 2009 lows. If you own this stock it might be a good time to cash out considering the implications could suggest a correction sees a move towards 140.00 – 120.00 or lower.
The break under 200.00 is the first bearish sign to argue that the trend from the 2016 lows has ended a 5 wave advance, a 5 wave decline from the yearly highs would also offer strong evidence that a peak is in place.
Staying below 215.50 is a good sign to supporting further weakness.
Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all time highs, it may be prudent to think about protecting any gains you have.
Click here to purchase a consultation call CLICK HERE
Click here to purchase a Elliott Wave report CLICK HERE
Note: If you are a member, you can email me or send a tweet for an update if you are thinking about trading this stock.
The last few months the look of the price action looks like a bearish rising wedge, in Elliott wave terms we call that an ending diagonal, the break of 170.00 is a strong sign that wave [5] has likely ended and started a move lower, as well as suggesting the bull cycle from the 2008 lows has ended and completed and impulse wave. If you own the stock you may want to take profits as if the advance has ended, a move towards 130.00 – 120.00 or lower is expected (depending on the larger picture wave count from the inception).
Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all time highs, it may be prudent to think about protecting any gains you have.
Click here to purchase a consultation call CLICK HERE
Click here to purchase a Elliott Wave report CLICK HERE
Note: If you are a member, you can email me or send a tweet for an update if you are thinking about trading this stock.
The spike from earnings could be a terminal move, the recent gyrations over the last few months count well as a triangle, which would indicate that a thrust to the upside is likely a terminal thrust and a 5th wave of an impulse wave that started from the 2016 lows.
When you look at the whole move from its all-time low in 2006, the spike to new highs could be a 5th wave of a larger 5th wave, which makes today’s spike an important move and a potential major peak is setting up. Whilst it’s above 173.50, give the benefit to the upside. A strong reversal back under 173.00 – 170.00 is needed to make the case that the upside form 2016 has ended and completed a 5 wave advance for an impulse wave. If you own this stock I would suggest you cash out if a big reversal under 173.50 – 173.00 or may regret not banking profits.
Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all-time highs, it may be prudent to think about protecting any gains you have.
Click here to purchase a consultation call CLICK HERE
Click here to purchase a Elliott Wave report CLICK HERE
Note: If you are a member, you can email me or send a tweet for an update if you are thinking about trading this stock.
The recent price action over the last few weeks appears corrective in nature, but its drifted sideways and generally wasted time. One idea that I am favoring is a possible triangle for a [X] wave. The look appears to be contracting which would favor a triangle. Ideally it remains below 54.61, that would be supportive of further weakness.
The move from the 2016 lows into 56.13 counts well as a 5 wave advance for an impulse wave, staying below 56.13 suggests a correction to the uptrend is underway, a decline towards 30.00 – 35.00 is my primary target. A strong break of the support band around 45.00 should finally find sellers and see a breakdown.
Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all time highs, it may be prudent to think about protecting any gains you have.
Click here to purchase a consultation call CLICK HERE
Click here to purchase a Elliott Wave report CLICK HERE
Note: If you are a member, you can email me or send a tweet for an update if you are thinking about trading this stock.
