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More correction on the way
LTTS CMP 5249
Elliott- the counter was down 3.3% today. It is the start of the C leg of the corrective pattern zig zag. The minimum tgt for this leg is 4647 which is the 50% fib zone. The tgt is good 11% from CMP.
RSI- The A leg of the fall has a negative divergence. As the C leg has started the RSI is failing below its averages. This fall will be equally strong as the A leg.
Elliott- the counter was down 3.3% today. It is the start of the C leg of the corrective pattern zig zag. The minimum tgt for this leg is 4647 which is the 50% fib zone. The tgt is good 11% from CMP.
RSI- The A leg of the fall has a negative divergence. As the C leg has started the RSI is failing below its averages. This fall will be equally strong as the A leg.
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