|$Compq- 2889 target, possible rising wedge|
|Written by Gary Caumont|
|Wednesday, 30 May 2012 07:51|
$Compq has a short term wave 3 target of 2889 but may be forming a rising wedge with a target in the 2745 area- see the following 9day 30min chart.
The chart shows (in bold) the possible 3 wave move up to 2889 with waves 1 and 2 complete. Wave 3 is composed of subwaves with wave 1 starting at 2796 and wave 3 complete to 2883 with wave 4 down in progress (low as I write 2829). The vertical line down from 2867 shows the size of the mouth of the possible wedge which I have transferred to the lower trendline of the wedge showing the 2745 target if the wedge is broken today.
|Last Updated on Wednesday, 30 May 2012 07:56|