CAT Elliott Wave analysis
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave {iii} of 5.
Direction: Upside.
Details:
Likely completed wave 4 bottom, now moving higher. Pullbacks are occurring in threes, supporting a temporary bullish view. Targeting continued upside in wave {iii}.
Function: Trend.
Mode: Impulsive.
Structure: Motive.
Position: Wave (i) of {iii}.
Direction: Upside.
Details:
Market appears to be subdividing into waves {i} and {ii}. The stock is moving impulsively upward in wave (i). Target for wave (i) is near $50, then a short pullback in wave (ii) is expected before the uptrend resumes.
Technical Analyst: Alessio Barretta.
CAT Elliott Wave analysis [Video]
