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Fiserv: Slips Below Support

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FI shares have recently continued to move as anticipated, further into our green long Target Zone between $147.45 and $119.30. We primarily expect ongoing sell-offs within the current wave (B), with its low likely to form near the lower boundary of this range. Once this low is established, the final wave (C) of the magenta three-part structure should begin, driving price significantly higher and completing the larger green wave [B]. As a result, the green Target Zone continues to present opportunities for short- to medium-term long entries to capitalize on the upcoming (corrective) upward move. Depending on individual risk tolerance, long positions can be protected with a stop 1% below the lower edge of the zone.

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