Unity Software is trading in a bullish channel. It has already completed 3 waves and should retrace to around $115, before it resumes its uptrend to $170-$180.
We are currently trading inside an ending diagonal of a fifth wave, which means we will have to retrace deep. TRIX , which is basically a modified MACD histogram, is flashing bearish divergence.
I have outlined the risk and reward for you on the chart. The yellow box is the end of the 4th wave and our target. Once our target to the down side gets hit, we should see run up to the blue box on top of the chart.
Good luck.
We are currently trading inside an ending diagonal of a fifth wave, which means we will have to retrace deep. TRIX , which is basically a modified MACD histogram, is flashing bearish divergence.
I have outlined the risk and reward for you on the chart. The yellow box is the end of the 4th wave and our target. Once our target to the down side gets hit, we should see run up to the blue box on top of the chart.
Good luck.