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CO2 GRO INC
Long

Bullish Breakout - Elliot Theory

By edwinv89
Updated
I have been watching this stock for months. I started to realize Elliot wave theory was occurring once it did the first 5 waves in Dec 2017. From then on it looks like It did a double three wave followed by an ascending triangle with the E wave overshooting just as Mr Elliot has theorized . However I am not sure at what stage the larger trend is in . I believe that the first 5 waves indicate wave 1 and then the WXY plus the triangle are Wave 2 however , it is said that wave 2 never or rarely ever does a double correction on those corrections only occur in wave B or wave 4 but if correct would indicate the start of Wave 3. If anyone has other interpretations please post.
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The RSI trend has been broken and the MACD is about to cross the 0 line.
Note
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There is also a bullish pennant breakout
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breakoutcorrectionimpulsewaveTechnical IndicatorsTrend AnalysisWave Analysis
edwinv89

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