Persistent System completed larger degree wave 5 and underwent correction of about 40%. The stock completed the larger correction on 7 Apr 2025 and ever since has been forming a new impulse wave.
The stock completed the new impulse wave on 17June 2025 and has been undergoing correction in the form of a flat structure (3-3-5).
Wave C of the Flat (5-wave structure) had a 5th wave extension (as could be found in the wave markings). I was expecting stock to complete the 5th wave extension at 1.618, however stock took support at 1.414 and has started moving up. Stock is up already over 5% from July 18 lows.
One may consider going long when the stock corrects with a target of 6184.
Happy Trading.
ChartTheWave |
t.me/chartthewave
Welcome to the world of Elliott Wave Principle "EWP". This channel is a forum for practitioners, enthusiasts, and learners. Our aim to build a team of traders who apply EWP - learning, sharing, and profiting together.
t.me/chartthewave
Welcome to the world of Elliott Wave Principle "EWP". This channel is a forum for practitioners, enthusiasts, and learners. Our aim to build a team of traders who apply EWP - learning, sharing, and profiting together.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
ChartTheWave |
t.me/chartthewave
Welcome to the world of Elliott Wave Principle "EWP". This channel is a forum for practitioners, enthusiasts, and learners. Our aim to build a team of traders who apply EWP - learning, sharing, and profiting together.
t.me/chartthewave
Welcome to the world of Elliott Wave Principle "EWP". This channel is a forum for practitioners, enthusiasts, and learners. Our aim to build a team of traders who apply EWP - learning, sharing, and profiting together.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.