Yep, supply to be worked through in this range. IMO, maybe a bit more upside to 510-520 range this week then a retest at the 480 region which will be at the 78.6% Fib retrace at 483, downtrend line, gap at 483 and 50SMA. Currently respecting the channel but I suspect they will try and pick up supply with a test of that. If they get serious, the gap at 443 beckons. That is also approx' the 200SMA (Magenta).
On the bright side, once the non believers are flushed out, a new up wave should commence. If we blow past 543 in the next few days, the EW gurus might like to give a wave count update. I'm not there yet.
Not predictions punters, just my view. Flush with new funds, I'm set for top ups if the maggots have a short term win and close those pesky gaps. At 450, it's a $13.5B MC with $3B in the bank and revenue of approx' $4B, making for juicy biannual dividends and growth to boot. That'll do me.
Yep, supply to be worked through in this range. IMO, maybe a bit...
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