My model says JNUG is grinding out 5 of 3 of the current wave. The minimum bounce target is the prior 4th somewhere in the $12 range but it is not out of the question to see a bounce to the 38.2% fib which is at ~$15. All this assumes that my count is not off by one at the bottom. It can be very difficult to discern 5ths from 3rds at these small and final wave degrees. If you want to be safe, buy the breakout from $8, it will not likely be at least a 50% winner. But this low is only modeled as [3] of [5]. So if we see a-b-c to the prior 4th or to the 38.2% fib then we should consider taking profits and then seeing if it will reverse and head to a double bottom or even a lower low.
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