LKQ Corp. (LKQ): Expect a Sizable B Wave Bounce form the ABC Sequence

SUMMARY

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The impulse sequence for LKQ Corp. (LKQ) is most likely complete as shown in the below chart. The requisite correction has already started in earnest. The first down leg has been swift and deep; however, the correction is not complete. Could one have foreseen this correction had they been able to discern the EW motive? I believe so.

The blue subwaves show qualify the white wave 3 and often, as long as the most extended wave is qualified; the remainder falls into place. The red halo event is already taking its fear toll on those who are riding this correction down. The ABC sequence could target lower than shown, that must be kept into awareness. However, given how oversold the MACD is, a potential 30% swing trade to red B bounce is to be considered.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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