The 4hr chart indicates a clearer picture of the bearish 5-wave rising wedge/triangle. It has an upside to form the last leg of wave E definitely.
Morning star formation may bring the stock higher to test the resistance zone.
We are looking at the possible breakup once the neckline resistance at 26,504 is broken. Once the neckline is broken, we will be targeting a sell at 161.8%-200.0% extension level
Tesla was met with some strong selling on Tuesday after hitting the supply. But the supply was weak after candles show some indecisions. Meaning to say that the current selling is showing corrective action instead rather than a reversal. Also, the formation of a pennant shows a strong possibility of a continuation of an uptrend.
Dow futures struggled to clear pass the high at 27,500 region but I believe Dow is trying to make a last attempt to test the immediate high once again. It is a risky move as I am longing at the high zone.
Broadening wedge and rising wedge within it indicate a strong correction ahead upon hitting the resistance zone highlighted in red. Foresee a sell down.
Dow will head down lower after rejecting the supply zone.
Baba will see further upside as the wave analysis compliment it. We may be seeing a strong possible extension of the 3rd wave. Buying is strong
I'm still hopeful for an upside despite a strong sell-off for the past 2 days. hopeful!
Broadening rising wedge/megaphone is spotted and there might be a correction downwards before a rebound. So stay tuned. 5 waves triangle is in play. Ultimate sell down is near the top.
Our analysis date 26th June Long has reap us some profit after a bounce on the demand zone () we are going to add on the bulls as there is a strong momentum to test the supply zone which is the wave B target.
Sigh.. The sub-wave 5 is already completed and I mis count it. Cost me my entry short level at a very bad price. Need to be more careful next time.
The market is going to be on a range-bound mode. So what we can do is sell and buy on high retracement level. Anyway, let the chart speaks for itself.
The Index is maintaining its upside after completing a double three on an hourly chart. As such, we should see further upside to form sub-wave C of the 2nd wave. Selling zone remains at 26,9xx - 27,106, which is at wave C. July we will be seeing a grand sell down of the wave (iii) See report()
Apple broke new high last week and although price made some effort to edge higher, the bearish divergence may indicate a further sell-off. As such, the potential buying is around 320-327.
The market is still tugging within the ranging period. Formation of the falling wedge on the 4hr chart indicates a possible upside to test the top level at 78.6%-88.6% of wave (i).
In response to my earlier post on the weekly chart. Also the hourly chart () clearly indicate a potential selling zone.