SUMMARY
When is the best time to buy? At the terminal end of a correction. Take a look at the Hanes Brands (HBI) chart. I made a very nice 3 wave extended impulse wave sequence. After wave 5, the correction didn't waste any time. Price has been correcting while traveling within a channel and the key question is: What's next?
The subwaves qualify the higher degree of trend waves pretty well. The correction looks to be a wxyxz (blue) sequence. Note also the downward wedge pattern (yellow) and price should break out of this pattern as well. The MACD has been making higher lows while price has been putting in lower lows. I believe a price turn to the upside is coming.
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