SUI: Dip and Go?

On Monday, SUI dipped into our green Target Zone ($3.12 – $2.54) but quickly rebounded and climbed back above the $3.27 level. While it’s possible that wave 2 has already bottomed, we’re still allowing for potential new lows within this range. Once this interim correction wraps up, we expect an impulsive rally as green wave 3 takes shape, which should push well above the $4.44 resistance.