Looking at the move from the 2015 lows, we can make the case that an impulse wave (5 wave advance) is in development. The short term gyrations over the last 6 or so months could be counted a couple of ways.
Idea 1
Firstly a triangle could be suggested for wave [4] wave and the upside is part of an ending diagonal for wave [5].
Idea 2
Or wave [4] ended at the Oct 2018 lows and the recent price action has developed as an ending diagonal for wave [5]. Either idea suggests caution for the bulls. To argue for a reversal and move lower, It would need a big move back below 85.00 to support more 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.