EFX, Massive HEAD-SHOULDER-FORMATION, Huge BREAKOUT Incoming!

19 thg 8, 2023

Hello There!

Welcome to my new analysis about EFX Stock Market Price Analysis on the Weekly Timeframe Perspectives. EFX recently developed important dynamics within the whole structure that can indicate further substantial determinations in the next times. Especially after forming the all-time-high at 290 and the pullback that followed this all-time-high EFX formed several lower lows that should not be underestimated together with the main waves towards the downside such a structure is indicating a crucial bearish inclinement that could accelerate down the line.

As when looking at my chart EFX now emerged with several really important structure dynamics that are indicating the further price action that awaits EFX. Within the past days EFX pierced the 200-SMA marked in blue to the downside and already formed a new low below this ever so crucial SMA which served as a major support in the trend-structure before. Furthermore, EFX is now forming a local head-and-shoulder-formation slightly above the SMA with the right shoulder about to complete within the next times and once this right shoulder of the whole head-shoulder-formation has been completed this means that further bearish momentum is likely to develop the next lower lows within this structure.

What is also crucial in this whole structure is that EFX has formed this main descending-resistance-line to the downside marked in red in my chart from where EFX already pulled back several times to the downside meaning that there is a overwhelmingly high indication that EFX pulls back from this descending-resistance-line once again with forming the right shoulder of the whole local head-and-shoulder-formation. Such setup will complete a massive origin for the next lower lows to be formed till other supports in the whole area are tested which consist of the neckline of the global big picture head-and-shoulder-formation as well as the 400-EMA marked in red. These levels will be determining for the completion of the whole big picture head-and-shoulder-formation because once EFX broke below these levels it will mark the completion of the whole global big picture formation.

In the next times a pullback to the downside with paramount bearish inclinements should be considered. Once this happened the next pullbacks below the neckline of the global big picture head-and-shoulder-formation will complete the whole formation bearishly to the downside and will setup the origin for the massive wave-C-extension from this origin on. With the breakout below the neckline EFX also is going to have completed the major wave A and C of the major global wave-count consisting of the waves A, B, and C. From there on the wave C extension with further bearish pressure will setup and this wave C extension will move on till the final profit target zones have been reached within the whole structure which simultaneously serve as support levels to determine a potential change of direction. Once the whole head-and-shoulder-target-zones have been reached further determinations of a potential reversal need to be made. Indeed, it will be a important development and therefore we will keep the symbol on our watchlist and move on forward with the formation completions on the data dashboard into the right direction.

In this manner, thank you everybody for watching the analysis, support from your side is greatly appreciated.

VP

2 thg 9, 2023

Ghi chú

ANALYSIS UPDATE: EFX is moving on with the formation of the right shoulder of the gigantic head shoulder formation.

Once pullbacks off the major resistances emerge this will be the origin of the completion of the whole formation. Once completed targets will be active.

6 thg 9, 2023

Ghi chú

ANALYSIS UPDATE: The EFX price-action is continuing to form the completion of the local H-S-Formation to penetrate remaining supports.

A pullback below these zones is going to complete the formation on a broader level.

27 thg 9, 2023

Ghi chú

ANALYSIS UPDATE: EFX increased with bearish momentum on the local timeframes also accelerating the bearish dynamics.

The bears are in the line awaiting bulls to get slaughtered. In fact, it is going to end in a massive liquidation fiasco.

Aggressive Trading Entry: Enter directly within the current price-action. Increase risk/reward by 0.4.

Conservative Trading Entry: Enter with a breakout below the lower boundary. Decrease risk/reward by 0.4.