Update on PG
PG just keep unfolding as expected. Sure wish it would always be that clear. Actually it is very rare that a stock shows that nice of a pattern.
Anyway we are in a corrective rally and the only thing I am confident about is it is not over yet. Even if the rally of past couple of weeks stopped right at the apex of a contracting triangle ( wave iv ) a common occurrence, it is too short in time in relation to the first leg down to be over.
The rally appears to be a symmetrical double ZigZag opening the door for wave 2 will take the shape of an expanded flat i.e. PG would drop back down to 81 if not all the way to 79 before pushing higher towards 87.
I just don't know
Anyway we are in a corrective rally and the only thing I am confident about is it is not over yet. Even if the rally of past couple of weeks stopped right at the apex of a contracting triangle ( wave iv ) a common occurrence, it is too short in time in relation to the first leg down to be over.
The rally appears to be a symmetrical double ZigZag opening the door for wave 2 will take the shape of an expanded flat i.e. PG would drop back down to 81 if not all the way to 79 before pushing higher towards 87.
I just don't know
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