This blog is a journal of charts on ASX stocks in various point in time. You might find charts on Major forex pairs,Nasdaq and SGX stocks as well.It reflects the author personal view. Its neither advisory or invitation to trade. All done in the interest and passion for the market, trading, technical analysis and elliot wave. And to exchange view, opinions with traders worldwide. .
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Friday, July 2, 2010
WBC : Weekly chart 020710
WBC is still on the weekly charts' downward trending channel. Stochs still have a bearish angle to it, signifying current wave is far from complete. Trend is still down, far sighted target could even be at last support $15.00. However there might be a correction in the minor waves, have to look into the daily chart for that. So unless the wave interpratation with Symbol A is correct as there is a previous 5 waves as labelled by (3), (4),(5) and thus completing Wave A, then we can expect a Wave B which prices then can be anticipated to go up to $24.
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