Following Their Expected Paths

In Stock Waves this week, a number of Wave Setups, including MELI, BLDR, and XBI, continued to follow their expected paths.

As Stock Waves co-host Zac Mannes explains:

"MELI is a name we have been following very closely for a long time. We posted a Wave Setup back in November looking for the C-wave toward 1370s as (1) of an ED off the 2022 low.

"It filled out that move PERFECTLY getting a final pop to the 1370s for C=A as discussed on the ER move. but then immediately turned south!

"We also have a long-term Wave Setup on MELI from June 2022, and while ideally this ABC up from May is just wave (1) of a larger Primary 5, as discussed in the recent Special Update article there is a big risk that the ABC up was an alt yellow (B) of a wider and deeper Primary 4. Holding support in the 800s will be key."

Overheard This Week About MELI:  "Just want to thank you and Garrett for the remarkable guidance on this one!!" --ANC77

With regard to BLDR, Zac explains, "BLDR has been a steadily followed stock and a regular feature in our Charts of the Day videos. We posted a Wave Setup on it back on August 23 as it was completing a i-ii start to a 5th wave off the June low targeting the 112 region. It was a slow build off September, but since December has gotten to get frequent 'official' updates as it keeps reaching the next resistance waypoints. Heading into earnings this week it looked like it really wanted a pop as a micro C-wave inside the fifth of the fifth of our wave circle iii. It jumped over 13%, even exceeding the 161.8% Fib a little!"

Overheard This Week About BLDR:  "Fantastic trade. Thank you!" --ingamake

Lastly, regarding XBI, Zac notes, "XBI has been one of the sectors we have highlighted since March as having great potential to benefit from #Rotation. We did a 'deep dive' on it in our March 30 webinar and it was also featured in our recent MoneyShow presentation in Vegas. Off the 72.70 region (the exact 61.8% Fib) for (B) on March 24, it has filled out a perfectly #TextBook 5up for wave 1 to our ideal target in the 85 region!"

Overheard This Week About XBI:  "Zac, perfect calls on XBI..."  --CHPET