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Sanofi (SNY), a dear son of France Pharmaceutical Industry, had delivered some awesome profits to its shareholders of 99,753% from 1998 to present day!! WOW! I believe Bitcoin (BTC) can deliver this level of profits!! However, SNY is currently undergoing a requisite correction as can be seen in the below chart. The white impulse of 5 seems quiet complete and the early phase of the correction shows to have patterned out a downward wedge. So, is the correction complete?
Given that the price move since the wedge has been very overlapping, it's like to be a bounce as shown below with red B. The subwaves of B (white) show that c up is likely to be the next price move. The red C down needs to be lower than the start of A. The MACD should bounce to support the coming c of B wave bounce.
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Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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