Still testing my knowledge of EWT. That explains the differences in my charts...
Though I am dealing with the same stocks...
My new chart on $ALT...
Still confused about the direction of this stock. I am not sure what will happen on and after the day $ALT's change in par value.
A bearish scenario would put $ALT's current price movement forming Wave 1-2...
A bullish scenario on the other hand would mean $ALT's price action is heading towards Wave 1-3...
And here's $CAL's chart...
In contrast to earlier charts, which focuses more on the exact highs and lows to form a downtrend channel, this one considers the place of each price bar in the movement of waves. As a result, I see $CAL seeking the low of Wave C-4. If 2.27 was already the bottom, then I expect a bounce to form Wave C-5.
A bullish case can be built once Wave C-5 is complete. There might be a pull back first before starting a rally.
Though I am dealing with the same stocks...
My new chart on $ALT...
Still confused about the direction of this stock. I am not sure what will happen on and after the day $ALT's change in par value.
A bearish scenario would put $ALT's current price movement forming Wave 1-2...
A bullish scenario on the other hand would mean $ALT's price action is heading towards Wave 1-3...
And here's $CAL's chart...
In contrast to earlier charts, which focuses more on the exact highs and lows to form a downtrend channel, this one considers the place of each price bar in the movement of waves. As a result, I see $CAL seeking the low of Wave C-4. If 2.27 was already the bottom, then I expect a bounce to form Wave C-5.
A bullish case can be built once Wave C-5 is complete. There might be a pull back first before starting a rally.
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