Elliott Wave View: Facebook (FB) Reacting Higher from Support Ar
Short Term Elliott Wave view in Facebook (FB) suggests the rally from July 20 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from July 20 low, wave (1) ended at 377.55 and dips in wave (2) ended at 347.73. Internal structure of wave (2) unfolded as a double three Elliott Wave structure. Down from wave (1), wave ((a)) ended at 366.93, wave ((b)) ended at 375.41, and wave ((c)) ended at 354. This completed wave W in higher degree. Rally in wave X ended at 373.28. The stock then resumed lower in wave Y. Down from wave X, wave ((w)) ended at 351.05, rally in wave ((x)) ended at 360.73, and wave ((y)) of Y ended at 347.73.
This completed wave (2) in higher degree at the blue box area. This area is the 100% – 161.8% Fibonacci extension of the wave W. From the blue box area, the stock has turned higher in wave (3). However, at this stage it still needs to break above wave (1) at 377.55 to rule out a larger double correction. Up from wave (2), wave ((i)) ended at 360.48 and pullback in wave ((ii)) ended at 356.90. Near term, as far as pivot at 347.73 low stays intact, expect the stock to continue higher.
This completed wave (2) in higher degree at the blue box area. This area is the 100% – 161.8% Fibonacci extension of the wave W. From the blue box area, the stock has turned higher in wave (3). However, at this stage it still needs to break above wave (1) at 377.55 to rule out a larger double correction. Up from wave (2), wave ((i)) ended at 360.48 and pullback in wave ((ii)) ended at 356.90. Near term, as far as pivot at 347.73 low stays intact, expect the stock to continue higher.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.