The stock is spotted in a complex triple three correction(WXYXZ) since JUL.2023 and is now finally at the end stages of this lengthy correction.
Only the last leg, which would be wave v of "WAVE C" of "WAVE Z" seems pending in the stock now.
$170-180 is a major support region and the stock is expected to complete the last leg of the correction within this zone itself without sliding much further down.
What would follow after "Z" is completed though, would be the next bull leg (labeled as wave III of 3) that could be projected moving towards $330 region.
Only the last leg, which would be wave v of "WAVE C" of "WAVE Z" seems pending in the stock now.
$170-180 is a major support region and the stock is expected to complete the last leg of the correction within this zone itself without sliding much further down.
What would follow after "Z" is completed though, would be the next bull leg (labeled as wave III of 3) that could be projected moving towards $330 region.
Comment:
Dow trend on daily chart has now turned up from down. $182 to be used as trailing SL from here on.
It's time for up move to begin that should extend till $330.
$175 is a crucial support level.