Previously we at A&T Corp. had posted the 4H chart on Air Canada and it looks like it's following the same pattern so far and so here's an update on what looks like is happening.
The downtrend is still on-going but this time the sell-off is gradual but steady and therefore, we can see the last bit of the Elliot wave is going at a lesser gradient than before. We think this wave will complete at this rate and maybe a little faster movement next week could be expected. The key point here is that the previous bottom might be breached to find and establish a new support level.
Note: Remember a break-out towards the top of the triangle (current resistance) may still trigger a buying frenzy.
Keep shorting the 1D chart till it reaches previous levels of $10.0 to $11.0. Stop-limit shorts to clear break-out line from the top.
Please feel free to like, share, and comment below to let us know about your thoughts, opinions, and/or questions.
Best of Luck!
The downtrend is still on-going but this time the sell-off is gradual but steady and therefore, we can see the last bit of the Elliot wave is going at a lesser gradient than before. We think this wave will complete at this rate and maybe a little faster movement next week could be expected. The key point here is that the previous bottom might be breached to find and establish a new support level.
Note: Remember a break-out towards the top of the triangle (current resistance) may still trigger a buying frenzy.
Keep shorting the 1D chart till it reaches previous levels of $10.0 to $11.0. Stop-limit shorts to clear break-out line from the top.
Please feel free to like, share, and comment below to let us know about your thoughts, opinions, and/or questions.
Best of Luck!