Recently, the FI stock surged directly into our green Target Zone (coordinates: $186.40 – $207.40). This year alone, it has gained over 40%. With the recent arrival in our Zone, the time is now ripe for an overarching trend reversal. Because: by hitting our Zone, the price has reached the absolute minimum target for the green wave [5]. From a technical perspective, an immediate trend reversal and a transition into wave II are now possible. At the moment, we place Fiserv in the turquoise wave 3, which should be followed by another dip below our Target Zone. Ultimately, the entire turquoise upward impulse should complete the overarching uptrend of the beige wave I. Thus, our Zone can be used to take profits from existing long positions or to initiate new short trades. Such potential short positions can be hedged with a stop 1% above the 78.60% retracement level (at $207.40).
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
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.