SUMMARY
Po.et (POE) has been going sideways since early March and the recent price action seems to be patterning out a rounded bottom (blue arrow). The prior impulse up (blue) shows an extended 5th wave; hence the deep correction. The wxyxz complex waves could be complete if we see an onset of impulse wave moving up.
The MACD has pretty much traveled all it can through the narrowing parameters. A breakout is highly likely. This would initiate the first of three series of impulse wave moves upward as shown in the below chart. Does this look like a price crash scenario? Would you be a buyer or seller at this stage?
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