Should be ready for the next rally higher in red wave iii towards 32.60. The ideal target for the ongoing wave 5 is at 34.10.
The clear break above the base channel resistance line has forced me to change my Count. Instead of this rally being a wave v of 1, wave 1 ended at 13.45 and wave 2 ended at 9.35 and wave 3 higher is currently developing. I expect wave 3 to be an extended wave and continue higher towards 25.08.
SCTY is also in its strongest part of wave 3. The stock has been up as high as 30% today. Earnings are tonight which should effect SPWR.
ReplyDeleteDo you think wave 5 ended at 29.07 in FB? It seems like this is a rather large correction down to 25.90 to still be in wave 5. At what price do you see the count as invalid?
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