$SPOT New Lazy Elliott Fibonacci Plot
It has been months since I last plotted this and it exceeded expectations.
Initial assumption on the left retracement is that the subwave impulse is complete and is doing a long correction.
Good base so far.
Take note of the following:
>It can rally until the 100% of the right retracement if the overall market sentiment is positive.
>Otherwise, expect the stock to do another leg down at least near the 38.2% level.
>Probably an ongoing major Wave 2.
Good luck!
Initial assumption on the left retracement is that the subwave impulse is complete and is doing a long correction.
Good base so far.
Take note of the following:
>It can rally until the 100% of the right retracement if the overall market sentiment is positive.
>Otherwise, expect the stock to do another leg down at least near the 38.2% level.
>Probably an ongoing major Wave 2.
Good luck!
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