REC
In my last update on REC I thought wave 2 was complete at the point now marked as A of 2. Wave 2 went down to 66% retracement before the recent bounce and now the daily momentum shown on the chart is in buy mode. the moving averages are at 105.3 as the first hurdle. A close above that would further confirm wave 3 up in force.
Wave 3 can be calculated using the Elliott wave calculator as follows. 134 and 158 depending o the actual size.
Wave | 0 | 1 | % | 2 - 0.618 |
84 | 118 | 0.41 | 97 | |
Wave | 2 | % | 3 - 1.0 | 3 - 1.618 |
95 | -0.19 | 134 | 158 | |
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