SUMMARY
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Following an ABC flat correction, Solar Edge Tech (SEDG) skyrocketed, pausing only momentarily to put in wave 2 adn 4. Wave 5 is nearly and if not already complete. Here is an example of an extended wave 1 (white). Look how wave 3 is shorter than 1 but still longer than 5. Thus, it meets the requirement that wave 3 can't be the shortest. Do you think this chart screams a buy?
A correction approaches, IMHO. The Cup & Handle bullish pattern helped propel SEDG to new all time highs by impulsing but that is nearly complete. The red ABC waves show a projected corrective price pathway; however, there is a good chance that the retracement can be deeper than depicted. Perhaps the correction could reach the prior wave 2.
The MACD also looks very toppy. This might not be a safe environment to stick around. While there is room for a bit more higher highs for white wave 5; I usually leave the crumbs on the table for the next guy.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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I really enjoy following your analysis. Keep up the good work.
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@Haejin I'd love to hear your thoughts on other solar stocks (e.g., SPWR, FSLR). Thanks again for all of your insights.
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afternoon
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Good evening.
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Please analyze GE General Electric..thank you!
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Dear Haejin, I would very much appreciate an update about XRP, BCH and LTC. Thx in advance!
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I'm still not understanding why you would downvote all of my comments when you could simply come discuss them on my blog.
...or here.
Come now. Be reasonable.
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