SUMMARY
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Marvel Technologies (MRVL) is showing a recent breakout from a symmetrical triangle labeled as ABCDE (red) sequence. Often, symmetrical triangles represent a point of indecision and price can breakout either upwards or down. However, Elliott Waves show that if the E wave sits on the bottom trendline of the triangle, the propensity of breakout is to the upside. That's pretty much what happened with MRVL.
The breakout was in an impulse mode (blue). However, the final blue wave 5 might not be complete; hence, the reason why it's labeled a bit higher than recent price highs. Regardless, it's likely almost complete. The ABC (red) corrective sequence is also likely retrace towards the top white trendline before resuming the uptrend. This correction too might coincide with the overall market correction that could be approaching or at hand.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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Thanks for most important post. @haejin
Poo poo on you
Wow nice post sir ..
Thanks for sharing the valuable information
Keep it up
Really nice Post. Thanks for sharing!
Thanks man
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@spaminator is coming for you, young man!
What will spaminator do to me? Will they Flag me?
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
Congratulations!!!!!!
Today is your lucky day. You are the winner of Steemit’s Lucky 7’s game!
We will continue to think that Marvel Tech is in many places
Can you do a T.a on Funfair? ;)