Last Growth Stock for the Day: $TREE

Last one, let’s look at $TREE. You can see the common theme between these last posts: growth. Last call on it was here. As with the other growth names, it, too, failed to rally. That said, it looks deliciously complete as a correction of even cycle (yellow) degree, dominated by two big triangles. Again, like the others, I smell total capitulation here, which is what we would see at the end of an ending diagonal making up the primary (pink) C wave.

Cycle (yellow) 3 should take us the the orange box you can see in the corner, but that’s years away. The other growth stocks I posted today are all in primary degrees, and this one will be too for the foreseeable future. It will embark on its primary (pink) one of that cycle (yellow) three. And that’s the only one we need to worry about for a long time. I have no target until I see the first wave of that, but it will rally in 5 strong waves, a genuine impulse wave (if this count is correct, as I suspect it is given the nature of the low I think we’re putting in here).

TREE


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Conservative Count on $TREE Points to 20% Rally

There are other ways to count $TREE, including that today was the bottom, but this is the less aggressive count, so I will adopt it for now because in both instances, a rally should upon us now. I will observe the behavior of that price action in order to try to determine which of the two is more likely as we move along.

TREE

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Note: When my work is first published on this website, it is made available to patrons who support my work through my Patreon account. Over time (usually after a period of a few months), I make the work public. To gain access to my work when it is produced, please consider becoming a patron. More information may be found on my About page and on my Patreon page.