SUMMARY
The below chart of Wex Inc. (WEX) is showing a classic topping process. First, the red halo event is clearly in progress. Second, the impulse sequence has all waves placed except for 5 which is nearly complete. It can potentially already be complete. This is NOT the time to be taking buying actions!
The blue subwaves show that yes, there is a bit more upside potential. But, these are crumbs compared to the risk of 62% decline potential. The ABC sequence could take prices to the 2016 levels of $89 or so and from current prices, that's not good!
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.
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