The stock is still in an intact upward trend, and is currently about 50% into the correction of the previous upward movement. In order to find an entry in the long direction, we should be on the lookout for signals in the subordinate trend.
In the hourly trend, we could soon see next upward-pointing 123s occurring. Here, the entry can be made at the point 2 or subsequently from out of the correction, with a stop loss at the point 3 that will have formed by then. For a target level, we can use the area around 50.50 USD (green line). If the value significantly and sustainably falls below 45.20 USD (red line), the long scenario should be abandoned.
In the hourly trend, we could soon see next upward-pointing 123s occurring. Here, the entry can be made at the point 2 or subsequently from out of the correction, with a stop loss at the point 3 that will have formed by then. For a target level, we can use the area around 50.50 USD (green line). If the value significantly and sustainably falls below 45.20 USD (red line), the long scenario should be abandoned.
