After an A-B-C Corrective Wave (red coloured wave), GILD is forming a 1-2-3-4-5 Motive Wave (green coloured wave). Presently, 4th corrective wave (yellow coloured wave) of this Motive Wave is under progress.
4th wave can be a triangle (3-3-3-3-3) as is the case here. Within this triangle, each of the five waves has a three wave pattern.
There is a gap below the 4th wave, which has remained unfilled. With every move down, the 4th wave has unsuccessfully tried to fill this gap, which shows that GILD still has bullish momentum and gaining strength to go into the final 5th impulse wave.
5th wave is usually inverse 161.8% of 4th wave. This is 100 in case of Gild. Soon, we should see volume picking up, which will mean that the 5th wave has begun.
Finally, we have RSI Divergence in the 4th wave.
4th wave can be a triangle (3-3-3-3-3) as is the case here. Within this triangle, each of the five waves has a three wave pattern.
There is a gap below the 4th wave, which has remained unfilled. With every move down, the 4th wave has unsuccessfully tried to fill this gap, which shows that GILD still has bullish momentum and gaining strength to go into the final 5th impulse wave.
5th wave is usually inverse 161.8% of 4th wave. This is 100 in case of Gild. Soon, we should see volume picking up, which will mean that the 5th wave has begun.
Finally, we have RSI Divergence in the 4th wave.
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