Long, but not until Early Jan 2021 - Read Notes
Swing Trade Idea
I-H/S
Expected Cup and Handle. Finishing Cup now on wave (3).
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Expected rejection from 4.81 to begin formation of handle. (Could short for wave 4 if you wish)
Anticipated L entry early Jan 2021
Only then, look at a long from 4.10 - 3.82 which should be the beginning of wave (5).
5.10 - R/R = 2
5.60 - R/R = 3
SL 3.60
This may spend some time in the 3.80 - 4.80 area while it builds out the handle.
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*** Once this clears 5.25 - look out! Low float.
*** This one has been in accumulation for several years between 3.00 - 5.00
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Look at GNW part 2 for longer term swing idea
Swing Trade Idea
I-H/S
Expected Cup and Handle. Finishing Cup now on wave (3).
---
Expected rejection from 4.81 to begin formation of handle. (Could short for wave 4 if you wish)
Anticipated L entry early Jan 2021
Only then, look at a long from 4.10 - 3.82 which should be the beginning of wave (5).
5.10 - R/R = 2
5.60 - R/R = 3
SL 3.60
This may spend some time in the 3.80 - 4.80 area while it builds out the handle.
---
*** Once this clears 5.25 - look out! Low float.
*** This one has been in accumulation for several years between 3.00 - 5.00
---
Look at GNW part 2 for longer term swing idea