According to Elliott Wave Principle (EWP), ITC has been clearly labeled since mid-March 2020 with a completed Wave 1, Wave 2, and Wave 3. From the top of Wave 3, the price has formed an ABC corrective structure, where Wave A is a Zigzag, Wave B is a Triangle, and Wave C is an impulsive wave. Within Wave C, Wave 5 appears to be forming as an Ending Diagonal.
Wave 4 has now retraced approximately 61.8% of Wave 3. Based on the Elliott Wave structure, the price is expected to advance into Wave 5, which should complete the current five-wave impulse sequence.
Wave 4 has now retraced approximately 61.8% of Wave 3. Based on the Elliott Wave structure, the price is expected to advance into Wave 5, which should complete the current five-wave impulse sequence.
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