So we peaked exactly as expected and are retracing now. First leg down could have been just market wide pressure. But second leg down is on a positive day for most indices. (uh oh)
Plotted EW paths are just GUESSES as to the retrace. But the ZONES are SOLID and each will cause a reaction. So we now we observe the action at our zones for clues.
It is also possible we do not get an "ABC" correction. Perhaps we reach a support and bounce to new highs. Perhaps we crash through supports to final destination.
The Numbers $ 30.49-30.62 is the minimum expected target. $ 29.51-29.73 is perhaps the most likely target. $ 26.45-26.84 should be VERY STRONG support.
DISCLAIMER: I know NOTHING about this company (other than TV ads). I do NOT OWN nor SHORT this asset (the stock nor bike). PURELY for educational purposes (not financial advice).
Previous plot looking for $35.-- or $37.00 top:
評論
Update as of Friday Dec 6th market close:
Firstly a snap shot of the original plot above: Moving roughly as planned.
Secondly, I had a zone in very light green because I discounted its possible effect: It was a confluence of red 4.382 and purple 3.236. Both of those ratios are usually not strong, but proved relevant here. So it is a Bullish sign, bouncing from a not-so-strong support.
Next, some zone adjustments, see notes on chart:
Next, a new Fib to map the last leg down
So I will be using this new data, and ponder the waves we have seen, to come up with a new plot soon.