Revising My $WBA Call

Previously, I believed that $WBA‘s correction was incomplete. I now interpret it as complete. The second leg of the pullback right upon us now should have extended lower in a small waterfall, but came only to the 61.8% retracement, so I now interpret that as a leading diagonal of a new bullish sequence, and my new target is the orange box above us.

The prior call will be filed under “Cancelled.”

WBA


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$WBA Correction Looks Incomplete

The structure of the correction on $WBA looks incomplete.

And the recent price action is diverging on the RSI. I think another move lower is more probable at some point, though I have doubts about it reaching the upper parallel rail first.

My target is the lower rail identified by the orange box.

WBA


[UPDATE]: I have revised this call here. This prior call is now cancelled.


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.