SUMMARY
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Double the rounded bottom, double the mint? GameCredit (GAME) is patterning out the second round of a rounded price formation as shown in the below chart. As seen similarly in other charts, this kind of repeats are a twofer! Now the likely trend is a second rounded formation but the decline from the prior peak to current level could be labeled as a downward wedge as well.
The downward wedge is shown below and if it breaks out as shown to be probable by the MACD pattern; then the rally could have a quick start. However, the basin phase is more likely (white rectangle) and a breakout from this would probably result in an imuluse (blue waves) to perhaps higher all time highs.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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