Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with Gold technical analysis, stock analysis and more. Read our technical analysis blog to learn more today.

March 27th, 2014: Initial BIB (Bio Tech) Wave Count

Posted by pugsma on March 27, 2014

1:05 pm EST:   Here is my initial BIB (Bio Tech 2X Bull) Wave Count on the daily chart.

It looks like P3 ended at near perfect 4.21*P1 extension of 109.74.   And since this 109.74 P3 high, there has been a sharp P4 correction that may have found bottom near the wave 4 of lesser degree (78.66) and the lower trend line.   The 38% retrace target is 71.26 and there is major [C]=1.62*[A] target at 70.06 should BIB need to correct further than today’s 74.83 low.

BIB Daily chart (mid-day):

PUG BIB daily chart MD 3-27-14

Sorry, the comment form is closed at this time.

 
%d bloggers like this: