Republic Services (RSG) is Patterning out an Upward Wedge Formation
SUMMARY
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While the bull run at Cycle degree of trend is not complete, there is a wave 3 (white) topping process that's about to complete. Republic Services Inc. (RSG) is getting ready to conduct a wave 4 correction.
The subwves of white wave 3 show that blue 5 is probably not yet complete. A little higher would place the blue 5 into completion allowing white 4 to onset. The MACD is a bit oversold and is also likely to bounce.
A closeup shows that an upward wedge pattern is being patterned out. The red line projects the probable price pathway for white wave 4. It's drawn as an ABC sequence but if the rule of alternation between white wave 2 is played out; it could become more complex.
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thanx for research :-)
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