- It is still trying to breakout from the EMA 50 resistance - If this is an ongoing Wave C, maximum TP is around 7.70 - If this is an ongoing Wave 3, minimum TP is around 10.35 Trade at your own risk!
- Might consolidate around 16-17 area - If this is Wave C, maximum TP is around 21 - If this is an ongoing Wave 3, minimum TP is around 34 Trade at your own risk!
- Bullish divergence at daily, weekly, and monthly time frame - Ongoing Wave C or Wave i of 3
Thesis count: - Wave ii of 3 Reasons to long: - triple bottom - bullish divergence at 15 and 30 min time frames - pullback at 0.236 fib area, where wave ii of 3 usually drops
Wave count: - Ongoing Wave C Strategy: Buy on breakout around 15 Target: - 25 to 34
Wave Count: - Ongoing Wave iii of 3 Target: - 12 to 15 Note: - Try to find an entry in the intra-day time frame
Wave Count: - Wave C Reason(s) to short: - Bearish divergence at 1 hour time frame - Reached the channel top - Reached the 1 trend-based Fibonacci extension Note: - This might be a short term pullback until 0.382-0.236 trend-based Fibonacci extension. If it bounces around this area, prepare for Wave 3.
Bullish Divergence: - Found on the Daily, Weekly, and Monthly time frames Daily Time frame: - The bottom might be in - Ongoing Wave 5 of 1 - Breakout - Wait for pullback before you enter
Daily Time Frame: - Breakout - Ongoing Wave C of 4 - EMA20 and EMA50 would be crossing each other soon Monthly Time Frame: - Ongoing Wave 4 (pump) - I am expecting another drop after the stock reaches ~$5