hi all.
review weekly chart.
as posted this week, i sometimes use ew counts to try to work out where we are in the bigger picture.
it is my understanding for a wave count to finish there is normally a broken support or resistance line, a divergence in a momentum indictor and a increase or decrease in volume.
looking at this weekly chart, if my count is correct we could have finished a 1 to 5 motive wave pattern and now could have just this week finished the wave A in a corrective wave pattern.
if this count is correct we will have 2 more waves in the corrective wave pattern(waves b and c)
the volume this week tells me we are not in wave c.
waves b and c can form a number of patterns, i try not to perdict the patterns until they have finished.
but before we ring up our brokers and sell, we should have a closer look this chart.
because we now have bullish divergences on the daily charts(one smaller degree to this chart) that tells me this could be the end of wave a in the corrective pattern,.
because wave A did not get below wave 4 in the motive pattern, this to me is a bullish sign.
what i will be looking for in the coming weeks is where will wave b top out, the higher wave B is, could see us have a higher wave C .
i still have two targets for the monthly time frame( one larger degree to the weekly) they are 60.50 and 61.69.
have a good one
582
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Last
$39.62 |
Change
0.065(0.16%) |
Mkt cap ! $202.0B |
Open | High | Low | Value | Volume |
$39.55 | $39.91 | $39.53 | $60.06M | 1.508M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
9 | 1633 | $39.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$39.62 | 1415 | 13 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
9 | 1633 | 39.610 |
28 | 3128 | 39.600 |
10 | 1652 | 39.590 |
9 | 1790 | 39.580 |
11 | 2903 | 39.570 |
Price($) | Vol. | No. |
---|---|---|
39.620 | 1415 | 13 |
39.630 | 2179 | 12 |
39.640 | 1836 | 13 |
39.650 | 6476 | 9 |
39.660 | 2566 | 10 |
Last trade - 12.08pm 18/09/2024 (20 minute delay) ? |
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