Allergan (AGN): VERY BULLISH!!

in money •  5 months ago

SUMMARY

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When is the best time to buy? IMHO, the best time to buy is at the terminal end of a correction. This kind of setup can be clearly seen with Allergan (AGN). As the chart below shows, the Elliott Waves 1,2 and 3 are complete and corrective 4 is already and if not just about to finish. What comes after 4? Wave 5! IF this cound is correct, the years to come can deliver 211% in profits via wave 5 alone.

The wave 4 is taking a downward wedge pattern as shown. This is also EW labeled as ABC. While price can decline a bit more, it represents a fine potential to cast a buy ladder! Clearly, AGN personality includes an affinity for triangles given that white wave 2 was also a symmetrical triangle.

See how the MACD is also diverging from price action of making lower lows by making higher lows. This is a bullish divergence and when compounded with pattern and EW; the setup is bullish!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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Thanks for sharing this post with us and wishing you an great day. Stay blessed

Very intresting, i like your posts ! Good job

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Wow
Nice tips
Thanks for the tips U5drx_NFe_Q4_Nn_YGEb9rq2_V47_X6_Yk_AQsm.gif