Decided to put a few of my charts out there today in the hope to learn something from quality feedback. Please don't hold back, fellow punters.
Here goes my take on CCU:
*/ SP has been in an uptrend channel since early July. It looks to be in the process of forming a 5-3-5 wave pattern with the first 5 waves up almost completed.
*/ There is resistance ahead around 82cps provided by the gap dating back to early March. This might just be enough to conclude the 5th leg up.
*/ If so, we could expect a 3 wave down pattern filling the small open gaps around 75cps and 72cps.
*/ After that we might just be looking at another 5 legs up provided the world doesn't fall down in the mean time.
If this theory holds true one might look at selling at 82cps with a view to re-enter at 72cps.
CCU Price at posting:
74.2¢ Sentiment: Sell Disclosure: Held
