It has been a good year for renewable energy and then we got a sudden pullback on December 11 and 12.
I believe the 3rd wave has just ended and we are in the process of forming the B wave of the 4th wave. Once the C wave is formed that will be the time to make an entry for the fifth wave. The 4th wave is likely to be completed on 0.382 Fibonacci region and should form a strong area of support as there was a lot of activity at that price point recently.
If we are being conservative then it may perform a double top, but I think with the transition to renewable energy we can expect it to be a complete 5th wave above the 3rd wave, so I am expecting above 5% profit from this swing trade.
I believe the 3rd wave has just ended and we are in the process of forming the B wave of the 4th wave. Once the C wave is formed that will be the time to make an entry for the fifth wave. The 4th wave is likely to be completed on 0.382 Fibonacci region and should form a strong area of support as there was a lot of activity at that price point recently.
If we are being conservative then it may perform a double top, but I think with the transition to renewable energy we can expect it to be a complete 5th wave above the 3rd wave, so I am expecting above 5% profit from this swing trade.