Looking at the decline on $MSOS, it can be counted as a 5-3-5 zigzag A-B-C structure. It looks like we’re trying a little breakout here, so a conservative first target is noted, though there will no doubt be more down the road.
[UPDATE]: This has failed to produce the rally I was expecting. I will have to file this under “Unsuccessful Calls.” I will watch it to see if I believe anything develops from here but can make no further call at this time.
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