Our Charts of the Day Video today covers FireEye, Inc. (FEYE), Halliburton Company (HAL), New Age Beverages Corporation (NBEV) and Morgan Stanley (MS).
FEYE is starting to act more in line with the white count on our chart as a leading diagonal to this circle wave 1. As such, it could get one more pop higher towards 18.50 as a 3rd of wave 1, come back deeper towards the 16's as a 4th wave, and making another move towards 19-20 as a 5th of wave 1.
HAL, which reported earnings today, started to get a little pop pre-market and then faded a lot. The low in wave (2) now looks like it may drop down to one more low in the 32.50 region. It's more likely now that instead of a w-x-y pattern, it could be in a 5th wave of the circle c wave down. As long as it holds the 32.50 region, it still looks bullish long-term.
NBEV has been getting some nice downside action in the blue C wave of alt wave (2). Support is in the mid-to-low 3's. The 4th wave up inside the blue C wave should not get much beyond 5 1/2-6 before heading ideally toward 3.50, which is a 50% retracement of wave (1).
MS is one of the very bearish charts we see. This larger b wave could have topped and started at least a bigger correction if not the start of primary wave 1 in a much larger cycle c wave. It appears to be in a leading diagonal down. If it holds in the 44's, and tries to come up the 50-52 resistance area, that would be another place from which to short.
Free 15-Day Trial
• S&P 500 Wave Analysis • Gold, Silver, Oil & US Dollar Reports • Stocks, Options, Cryptocurrencies & more • Live Coaching & Webinars
I am incredibly happy to have discovered this community, it is giving me support/resistances and risk managed patterns to trade. 8th consecutive month in green in 2022, without stress !!! Avi you taught me 100% of my trading by being crystal clear, always honest and providing alternatives. many thanks
"Sylvain" - Trading Room2022-09-03
I’m convinced, EW theory is THE best way to approach markets for investing/trading. Whether you’re scalping micro moves, day trading swing trading or long term investing, EW always has you covered. Most people have a lens or a way they view the market but how consistent over time is it? For myself I like fractals and have made life changing trades off them. But as my trading days add up [and] the value of EW becomes clearer, especially when coupled with fib #s, I have to give credit to you Avi for this!
"bullhammer" - Trading Room2022-05-05
Love this community! If you have a mindset to learn, this place is a gold mine.
""FletchFFletch" - Trading Room" - 2021-05-07
Unparalleled value...can't even imagine trying to trade without this service.
""GoodLuckChuck" - Trading Room" - 2021-05-05
"Having EWT sometimes almost feels like having a cheat sheet when it comes to discerning market behavior."
"@TsaiMaxim" - Twitter2023-01-23
"Thanks Avi and all honored analysts, as a retail trader, EWT really changed my life."
"Ultima" - Trading Room2022-09-09
I cannot imagine a better value for the money out there than what you provide. Nothing even close to your product.
"Falcon16" - Trading Room2022-05-12
In about twenty years learning in the markets the most gifted, talented person in the world, regarding markets analysis, I've encountered is Avi Gilburt
""FALLACY_NAVIGATOR" - Trading Room" - 2021-04-30
Your team are the best traders & analysts. truly a world class trading site.
""MambaMentality" - Trading Room" - 2021-03-04
"Avi, your fib ratios have been an absolute game changer for me....Being able to confidently map out the story and outline is truly amazing."