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
$39.83 |
Change
0.280(0.71%) |
Mkt cap ! $202.0B |
Open | High | Low | Value | Volume |
$39.55 | $39.91 | $39.53 | $34.27M | 857.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 35 | $39.83 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$39.84 | 1809 | 16 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
18 | 3144 | 39.870 |
17 | 1821 | 39.860 |
10 | 4827 | 39.850 |
10 | 1444 | 39.840 |
8 | 1228 | 39.830 |
Price($) | Vol. | No. |
---|---|---|
39.880 | 370 | 6 |
39.890 | 1175 | 8 |
39.900 | 1177 | 8 |
39.910 | 1659 | 9 |
39.920 | 962 | 7 |
Last trade - 11.00am 18/09/2024 (20 minute delay) ? |
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