China Online Finance Co. (JRJC):
SUMMARY
This weekly chart of China Online Finance Co. (JRJC) is labeled as an Expanded ABC correction. The red C wave is sublabled as wxyxz (red). IF the bottom is in, then the pattern of a Cup & Handle thus far is outputing bullish inuendos.
The the handle formation is quite elongated but labels well as an abcde (red) sequence. IF this pattern and Elliott Waves are correct, then the white arrow scenario could be a good potential. The MACD is also traveling within its own symmetrical triangle pattern. Its breakout to the upside would provide solide price movement support.
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
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Essay: Is Technical Analysis a Quantum Event?
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