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Elliott Wave View Favors More Upside in Facebook

Elliott Wave view on Facebook (ticker FB) suggests that the rally from March 19, 2019 low is unfolding as an impulse Elliott Wave structure. In the 1 hour chart below, we can see wave (2) of this impulse ended at $161.99. The rally from there to $179.19 ended wave (3). Internal of wave (3) subdivides as an impulse of lesser degree. Up from $161.99, wave 1 ended at $169.45 and wave 2 pullback ended at $163.33. The stock extended higher in wave 3 to $178, wave 4 ended at $174, and wave 5 of (3) ended at $179.19.
Wave (4) pullback is now in progress to correct cycle from March 25, 2019 low (161.99) in 3, 7, or 11 swing before the stock resumes higher again. While staying below $179.19, the stock has a chance to turn lower in wave (4) as a double correction. If the stock breaks above $179.19 from here, then it can still be part of wave (3) in extended wave 5. We don’t like selling the stock and favor more upside as far as pivot at $161.99 stays intact.
Wave (4) pullback is now in progress to correct cycle from March 25, 2019 low (161.99) in 3, 7, or 11 swing before the stock resumes higher again. While staying below $179.19, the stock has a chance to turn lower in wave (4) as a double correction. If the stock breaks above $179.19 from here, then it can still be part of wave (3) in extended wave 5. We don’t like selling the stock and favor more upside as far as pivot at $161.99 stays intact.
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14 days trial --> elliottwave-forecast.com/plan-trial/ and get Accurate & timely Elliott Wave Forecasts of 78 instruments. Webinars, Chat Room, Stocks/Forex/Indices Signals & more.
면책사항
이 정보와 게시물은 TradingView에서 제공하거나 보증하는 금융, 투자, 거래 또는 기타 유형의 조언이나 권고 사항을 의미하거나 구성하지 않습니다. 자세한 내용은 이용 약관을 참고하세요.