SUMMARY
Of course, catching falling knives is never a good thing, but many traders try to catch the bounces within a correction. Coherent (COHR) would fit such a profile quite well. Given the five wave meteoric rise (white), the correction has been a near collapse to a 0.5 Fib level retrace.
It's like that the ABC correction could play ourt. If so, the 0.618 Fib level should be hit by red wave C. The MACD is quite oversold...this is why a bounce play could be a potential. The subwaves (blue) for white wave 3 qualifies the higher degree of trend labels.
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