Elliott wave analysis is very subjective, and in hindsight often makes perfect sense, after making adjustments to fit the outcome. So it is in the case of DENT. What appeared to be a wave 4 correction getting ready for a Wave 5 impulse to a new All Time High, has suddenly turned into a corrective A-Wave after a steep price plunge below the start of the movement down to 0.075732.
This forces the April 5 high to be reinterpreted as a wave 5 peak, that in turns complete all the other larger wave movements.
From here it appears to me that there is another dip pending below 0.00757 before a B-wave correction and a final capitulation in a C-wave movement.
Noting that the current trend is bearish, the completion of a Head and Shoulders pattern with this price plunge, basically ends the DENT story, at least for the time being.
Fortunately there are many more bullish projects to turn one’s attention to.
This forces the April 5 high to be reinterpreted as a wave 5 peak, that in turns complete all the other larger wave movements.
From here it appears to me that there is another dip pending below 0.00757 before a B-wave correction and a final capitulation in a C-wave movement.
Noting that the current trend is bearish, the completion of a Head and Shoulders pattern with this price plunge, basically ends the DENT story, at least for the time being.
Fortunately there are many more bullish projects to turn one’s attention to.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.