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
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
ChartTheWave |
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
t.me/chartthewave
This channel is a common forum for "Elliott Wave Principle" enthusiasts, learners and practitioners. We aim to build a team of traders who practice EWP for common benefit; co-learn, teach, share, validate and benefit.
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.