Short
Elliott wave retracement pattern and Fibonacci GANN forecast
Tyco has been trending very strong for the last year and half, and is currently trading just below the 52-week high.
A small correction channel (wave A) may provide advance warning of a run at wave B, and then a 50% retracement in wave C.
If price moves above $39.15, another re-test of $41.14 is anticipated. There is minor resistance at $40.93, so the price will need to also climb through that.
If the price advances below 0.61 Fibonacci retracement, the next target is $35.19. Once the breakout occurs, a stop can be placed at 0.75 Fibonacci.
A small correction channel (wave A) may provide advance warning of a run at wave B, and then a 50% retracement in wave C.
If price moves above $39.15, another re-test of $41.14 is anticipated. There is minor resistance at $40.93, so the price will need to also climb through that.
If the price advances below 0.61 Fibonacci retracement, the next target is $35.19. Once the breakout occurs, a stop can be placed at 0.75 Fibonacci.
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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.