27 Aug 2020 ● 07:41 AM
CRWD - you can apply Elliott waves to anything that moves and has emotions. Emotions come from wide participation. The length of the projections you make is a function of amount of data. This stock from the March 2020 low on weekly charts looks like waves 1 and 2. Wave 2 on the daily chart below is a flat in A-B-C so can we start wave 3? Such flag breakouts do sometimes give false signals in bear market rallies. But otherwise are as strong. Wave 1 was 280% so if wave 3 does the same thing we end up at 350$. Time will tell we have broke out of the flag so far so till we remain above 114 its wave 3 in progress.