Notice the irregular Wave4 pattern where price action shakes out bulls and bears. This has been followed by what I believe to be a 5th wave ending diagonal. Notice that MACD divergence is very clear and that volume has been downtrending in the past several weeks. This evidence makes me conclude that these low prices are not going to be around for much longer.
11/09/2008
C's basing continues... get ready for a blast off!
I last posted about C here. It looks like Wave4 in this nearly 2-year downtrend formed as an irregular flat. Even though C is quite a bit lower than where I bought it, I still think it will soon have a very strong bullish move, to $25-35.
Notice the irregular Wave4 pattern where price action shakes out bulls and bears. This has been followed by what I believe to be a 5th wave ending diagonal. Notice that MACD divergence is very clear and that volume has been downtrending in the past several weeks. This evidence makes me conclude that these low prices are not going to be around for much longer.
Notice the irregular Wave4 pattern where price action shakes out bulls and bears. This has been followed by what I believe to be a 5th wave ending diagonal. Notice that MACD divergence is very clear and that volume has been downtrending in the past several weeks. This evidence makes me conclude that these low prices are not going to be around for much longer.
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