Chinese Internet Stock
Strategy
i. Straddle here at $150 for objective price of $160 or $135
ii. Enter short trade on break of $149 for $135
Overview
Prices has traced out 4 waves count. Anticipating that prices will dive on Wave 5.
Prices at $150/$151 has just touched the bottom of Wave 1. which is a crucial level for this count to work. If it breaks through on close, count has failed. Mission to be aborted.
via Stock Charts.com
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