Applied Materials (AMAT): Wave 4 Correction & Pattern
SUMMARY
Applied Materials (AMAT) is showing two rounds of an impulse motive at weekly degree of trend. The blue contained an extended 5th wave which led to a deep retracement correction. The second is currently ongoing as waves 4 and 5 are not yet complete.
Pattern shows to be a sizable rounded price formation (purple). The correction following the blue impulse cycle was in the form of an ABC though its subwaves are probably complex combinations (not shown). The subwaves of the second impulse wave 3 are shown in blue and qualifies the labeling. The white wave 4 should generate an ABC sequence or any other corrective motive. Wave 5 should bring prices to higher highs. MACD should also support the price action into the correction. At this point, would buying or selling actions be warranted?
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You can give him the flag.
His reputation is too high due to greedy people. Flagging him by me won't do anything.
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Hi, @danpaulson! I'm a little confused. Is this message not spam? What do you think?
Which message?
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