Here wave 3 extended and was nearly 1.618*the length of wave 1, therefore wave 5 should be a maximum of 100% of the length of wave 1. Wave 5 is currently slightly over 61.8% of the length of wave 1. Here wave 5 is clearly an ending 5th wave diagonal and thus a sharp reversal should follow very soon.
I think this is what's happening on Amazon stock. SO I think we can expect another minor wave up to complete the five wave structure Based on Elliot wave
I originally counted the waves like this, and there was no divergence on RSI or MACD
I think this graphs shows the situation which we are in. I originally thought that the fifth wave was over warlier when we hit just over the 1.618 making it the perfect fib ratio. However, the last wave up surprised me. So I considered that maybe we witnessed a b wave correction inside the ABC whih goes over the previoues wave up. However the scenario wasn't...
Looks like a possible bullish reversal could be coming up for Astrazenica.
Breakout day after a 2 year 1 month ascending triangle. A buy signal if you're a technical analyst and you see the pattern the same way.
Here we can see the breakout of trendline and resistance, moreover, there is a possibility of the end pullback. It gives us a nice opportunitiy to go long with the first target zone on the previous top and the second target would be the next resistance level -G_Invest
Go long on the 470 support line, with 460 stop loss. TP when you feel like it.
Bearish spike candles (candles with long upper shadows) coupled with bearish RSI suggests the share price is likely to test the trend line support is seen around 4400 levels. Only a daily close above 4817 (April 27) would revive the bullish view.
I am taking a chance on AZN after the denial of Obama care and report has settled.. Targets and Stop are arbitrary.. and I my change these depending on the market assessments..
We have a bullish gartley in development on daily timeframe. It would be agood idea to buy from yellow zone box with SL below it.
The forecast is based on alfazens' algorithmic analysis using Artificial Intelligence and big-data: www.alfazen.com
If AstraZeneca breaks the line it is a good idea to buy because structure is showing more upside.
Look for 4280p support to hold and play the breakout.