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Here is a chart of Kraft heinz Co. (KHC) and the ABC correction had delivered a severe blow to its stock price. Talk about declining 45% from its top! So, is the correction even close to being over?
Recall that the best time to buy, IMHO, is almost always at the terminal end of a correction. The subwaves of the red C wave counts complete to five (white). While there is a chance for an incremental lower low; this terminal end of the ABC correction seem quite near over, as indicated by the white arrow. The trend reversal could be sudden and surprisingly violent in moving up! Many will wonder why and then, later, news and events will arrrive to justify the price move.
Here is the weekly chart of KHC. Look how oversold the MACD is! Is this an ideal time to be buying or selling? What do you think?
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.
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