SUMMARY
This weekly chart of China Online Finance Co. (JRJC) is labeled as an Expanded ABC correction. The red C wave is sublabled as wxyxz (red). IF the bottom is in, then the pattern of a Cup & Handle thus far is outputing bullish inuendos.
The the handle formation is quite elongated but labels well as an abcde (red) sequence. IF this pattern and Elliott Waves are correct, then the white arrow scenario could be a good potential. The MACD is also traveling within its own symmetrical triangle pattern. Its breakout to the upside would provide solide price movement support.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
