Softcat PLC looking Toppy
Updated
Has Softcat PLC multi-year bull market finally topped out? Wave 5 has hit the target 1.618 inverse extension of wave 4, the current choppiness can be put down to uncertainty in the UK around Brexit and who will form the next UK Government so expect a few more weeks in the 890 to 1100 range.
A win for a Tory Government will see the parabola continue until the US election, a win for a Labour government will likely see 890 break and fall to 680 before a retracement.
A win for a Tory Government will see the parabola continue until the US election, a win for a Labour government will likely see 890 break and fall to 680 before a retracement.
Comment
Price action pretty much as described in November, looking for a retest of the 850 region another couple of times before the drop to around 550.
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