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EAT/SPLIF: Extended Correction

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Observations
  • After a super extended wave 5 move at an alarming pace, we have been going through a fairly long correction phase.
  • We may have entered into what is commonly known as the "hurry up and wait" syndrome, where we rushed through the impulse wave and then carry out long correction from the previous high.
  • Charts still bearish as 55 EMA is above the other EMAs on 3h timeframe.
  • RSI is also downtrending making lower highs.
  • I believe in this company fundamentally long term but one must be patient with this correction if you are looking to enter or currently holding long term.

Disclaimer
For informational purposes only and not deemed as financial advice.
modernpicasso
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Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.
Chart PatternsTechnical IndicatorsmarijuanamarijuanastocksmjstocksWave Analysis
modernpicasso

Pernyataan Penyangkalan

Informasi dan publikasi tidak dimaksudkan untuk menjadi, dan bukan merupakan saran keuangan, investasi, perdagangan, atau rekomendasi lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Persyaratan Penggunaan.