Power Ledger (POWR): Potential to Retrace 80% of Prior Highs

SUMMARY

Power Ledger (POWR/BTC) is showing the likely contours of a rounded price formation which will likely lead to a Cup & Handle pattern. This would be bullish for the midterm trend and timeframe. The price is expected to rise into mid May or so.

The MACD symmetrical triangle hasn't broken out yet and the likely direction of that breakout is to the upside. The blue Elliott Waves show that a five wave sequence (blue) should lead to 80% of prior highs. The handle portion would generate a correction of 50% or so; but that'll be only the completion of the handle. Afterwhich, the bull run would then get some rocket fuel.

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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