Rockwell Collins (COL): Would You Sit Through This Correction?
This chart of Rockwell Collin (COL) at first site might seem scary but fear can often be dispelled by awareness. So, let's tackle the red halo event first. Yes, there is an impulse of five waves that will complete and there is a scenario that it could already be complete. Once five waves are in, Elliott Waves states that there is a requisite correction.
I'm going with the likelihood that there is one more higher high left for COL, as shown by the blue subwaves. And this means that white 5 is a bit more to go before initiating the ABC sequence of correction. Is this correction worth sitting through? What do you think?
From a bigger perspective or degree of trend, the yellow waves show that the coming ABC jives well as a yellow wave 4 correction. Since it'll be a multiyear correction; taking profits might not be a bad idea.
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.