ESS moved from 28c to 54 , a very nice run , but nothing goes vertical and so it appears that the handle ( wave 4 down ) of the cup is developing now, wave 4 down are rather shallow retraces, so its a coin toss whether it hits either the 38 / 50 fib ( 44.50/41.18 ) support zones, whereby i expect wave 5 up to follow suit.
MACRO is stable......so far.
So next week i predict that handle to be near complete and commencing the wave 5 swing up......BULLISH !
Its just a theory not a fact, lets see how ESS responds accordingly.
imo
ESS Price at posting:
48.5¢ Sentiment: Buy Disclosure: Held
