ConcordBio Long Watch – Pullback After Structure Break

The chart shows an A-B-C corrective structure, where:

🔹 Wave A and Wave B are each divided into three smaller sub-waves (typical corrective behavior).

🔹 Wave C is impulsive, aligning with Elliott Wave guidelines for a clean correction completion.

📊 Fibonacci confluence supports this view — though I’ve not plotted Fib levels here to avoid making the chart look messy. You can check Fib retracement and extension levels on your own for confirmation.

Following the completion of this correction, the stock rallied strongly, breaking previous structure highs (BOS). We are now observing a pullback that itself is unfolding in an A-B-C form, potentially offering a good long entry in line with the prevailing bullish trend.

Chart Annotations:

🟩 Green Zones → Key support zones I’m watching for potential buying interest.

🔴 Red Line → Suggested Stop-Loss placement.

The idea here is to align with the trend, buy near support, and manage risk with a clear SL level