SUMMARY
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This weekly chart of Nordson (NDSN)...does it look bullish? Elliott Waves show that pretty much all five waves are in (red circle). Would you be an active buyer or a profit taker at this stage? If you took your profits here and price went to $160; would you remain grateful for your profits or jump back in with FOMO? Discipline is key!
It seems like wave 5 (white) is likely complete and placed. Elliott Waves states that after five waves, there is a requisite correction. The red ABC label shows that a conservative retrace depth and yes, it could go lower than marked. The MACD is a bit oversold and so a B wave bounce is due. Still, red C wave down is on deck.
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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
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?
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