Buy Persistent system, target previous 6184

Persistent System completed larger degree wave 5 and underwent correction of about 40%. The stock completed the larger correction on 7 Apr 2025 and ever since has been forming a new impulse wave.

The stock completed the new impulse wave on 17June 2025 and has been undergoing correction in the form of a flat structure (3-3-5).

Wave C of the Flat (5-wave structure) had a 5th wave extension (as could be found in the wave markings). I was expecting stock to complete the 5th wave extension at 1.618, however stock took support at 1.414 and has started moving up. Stock is up already over 5% from July 18 lows.

One may consider going long when the stock corrects with a target of 6184.

Happy Trading.