This is an Elliot Wave projection suggesting we've just completed Wave 2 of a standard 5 Up formation.
Wave 2 is often a 0.5 or 0.618 pullback on Wave 1.
Wave 3 is often related to Wave 1 by 1:1, 1:1.618, or 1:2.618 (don't ask me why).
Wave 4 often pulls back to the .382 of Wave 3.
Wave 5 is least reliable and may replicate Wave 1 when Wave 3 extends, or extend to the 1.618 if Wave 3 replicates Wave 1 (again, dont ask me to explain this woo woo theory).
Possible Wave 2 targets (CCAD): 8.88, 10, 11.65, 16
Possible Wave 5 targets: 11, 13.37 14.59, 20
The MACD is turning up with a bullish divergence shown in yellow.
NOTE This analysis is akin to random guessing and finger painting. These price targets and predictions are in no way intended as finacial advices.
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