4 Aug 2020 ● 04:22 AM
I am not sure I published the long term chart of SAIL while adding it to the Value Wave Investment list. So the stock has a wedge like pattern from 2008 down. Marked as W-X-Y-X-Z it presumes that the bear market is complete. The compplex structure is considered 4th wave. A 5th would attempt to breakout of the falling trend above75 where the upper trendline of the triangle is. A breakout in wave 5 can result in a truncated 5th, meaning a near double top close to +/-288, or a new high. We do not know the nature of a 5th wave at this stage. The thing to watch short term is that we get a larger 5 wave advance as part of a longer term rising trend.