Panasonic...New high`s next or corrective setback?
Hello Traders,
what’s next for Panasonic?
I have drawn the alternates at the chart to make my thoughts clear.
The move is either a wave 1 of (3) or it is part of a corrective move, here an „expanding-flat“!
While the stock broke about the latter high at 1068 it could be, that a „retest“ of this area will be next in the coming days and weeks ahead (if it not has happened)!
A break above the declining green trend line would open the door to higher price still, here to possible the 1264 area, the February 6 high.
A
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
The editor of this note is still invested to this stock!
what’s next for Panasonic?
I have drawn the alternates at the chart to make my thoughts clear.
The move is either a wave 1 of (3) or it is part of a corrective move, here an „expanding-flat“!
While the stock broke about the latter high at 1068 it could be, that a „retest“ of this area will be next in the coming days and weeks ahead (if it not has happened)!
A break above the declining green trend line would open the door to higher price still, here to possible the 1264 area, the February 6 high.
A
Have a great Sunday.....
Ruebennase
Feel free to ask or comment!
Trading this analysis is at your own risk!
The editor of this note is still invested to this stock!