Market Analysis for May 8th, 2020

ZG looking good.

IF this is the (3) of a P.3...

Since the (1) reach just over the .618 (yellow Fibs), based on FibPinBall the (3) should head to the 123.6% @ 207.

You will notice that that is beyond the 161.8% for (3).

You might also notice that this will require even more greater than normal extension at the green subwaves inside based on the possible 1-2-i-ii.

But so far this move up is acting rather "heart of a third"-ish.

Should certainly hold 43s now. And ideally stays over 47 and accelerates.

ZG - Primary Analysis - May-08 1023 AM (1 day)
ZG - Primary Analysis - May-08 1023 AM (1 day)
ZG - Primary Analysis - May-08 1023 AM (4 hour)
ZG - Primary Analysis - May-08 1023 AM (4 hour)
Zac Mannes is a senior analyst at ElliottWaveTrader.net and co-host of the site's Stock Waves service, which provides wave alerts and trade set-ups on individual stocks.