Video Chart Analysis on GOOS, KO, HMMJ and UNH

Our Stock Waves Charts of the Day Video covers Canada Goose Holdings Inc. (GOOS), The Coca-Cola Company (KO), Horizons Marijuana Life Sciences Index ETF (HMMJ.TO), and UnitedHealth Group Incorporated (UNH).

GOOS, a short set-up, had an initial move down into today's low, which looks like it completed wave (iii) of circle iii -- with price now bouncing in wave (iv).  The 46.70 to 47.58 retrace level is the ideal target/resistance for this wave (iv) of circle iii.  As long as it holds, this should to set up wave (v) down to around 42 next before the next bounce in circle wave iv.

KO has seen a decent turn back up off the Feb low, but still only 3 waves to the upside. So I do still want to see a full 5 waves filled out as the initial wave (i) and set up a more confident long entry on the wave (ii) using a stop underneath that Feb low.

With HMMJ I'm still viewing this as the initial wave (1) to the upside, and ideally starting a corrective wave (2) pullback down.  If we do see follow-through in wave  (2), the 19.16 to 16.73 area (the 38.2% to 61.8% retrace) would set up a nice long swing entry to play wave (3) to the upside.

UNH is another short set-up.  The 1-2 start for a (C) wave may have completed at the recent high last week, positioning the stock in wave 3 down.  Odds of that increased now that we had a lower low today to give us a possible 5 waves down off of last week's high, which could be circle wave i of 3.

See our video here.

Garrett Patten is a senior analyst at ElliottWaveTrader covering both U.S. and international equity indices as well as stocks.