Shake Shack Short Squeeze

SHAK looks great for the likely start of a C wave up in a larger corrective (B) wave.

The high probability target region for the (B) wave top is 46-54.

On the micro count off the May low it is possible to see SHAK retest the clustered moving average support in the 34 region as a flat for wave ii of the C, but not required.

Avi Gilburt is founder of ElliottWaveTrader.net.