CTSH, WPRT, YY updates 11/21

More member requested ticker analyses. Some are from waaaay back (WPRT, CTSH) and are looking really good 🙂

CTSH: Monthly candles chart as it shows the big trends so well. Here we have price clearly, plain and simple in (yellow) major-5 of (blue) Primary III. Since major-3 didn’t reach its full potential, and major-4 dropped to the 1.618x extension I expect that major-5 runs to at least the 161.8% extension, possible higher. That’s to at least $81, possible $95. The intermediate waves of major-5 (not shown) haven’t given me a clue yet. Thus, there’s still upside potential left, but once III peaks, it’s back down to the $50s for IV and then we’ll see a final wave V to new ATHs. Since III was extended, I expect V to not reach much beyond $95.

CTSH monthly


WPRT: Lets start off, as usual, with the big picture. This ticker has completed C1 and most likely C2 at 0.82c in March 2017. There were clean 5 waves up to C1 and then a clean 3-waves down (of which the c-wave was almost exactly 1.382x wave-a: classic!). In addition, the red c-wave was 5 waves as well. Perfect. Cont’d below.

WPRT monthly

Zooming in on the daily chart we can see what’s currently labeled as the C2 low; and since then there’s been a clean and clear three (yellow) waves up; where wave-3 was exactly 1.382x wave-1. So far so good. Then price bottomed right at the 76.4% extension, which is also text book, but this level needs to hold for a 5-wave advance to ideally $4.74. So far there’s a text-book Elliot Wave channel (red lines) and price has everything going for it to make 5 up. It can not overlap with the 2.60-2.65 wave-1 high or the impulse up is dead and we should see even prices below 0.82c… From a trading perspective: one can long it on a break above the 50d SMA, now at $3.24 with a stop at $2.60 or at the lower rising red trendline (now at $3.02) Simple.

WPRT daily


YY: Another beauty, another monthly chart to show the most important waves. Since there’s only 2 larger wave so far (blue I/A, II/B) I do need to label them as I/A, II/B as it’s currently unclear if this ticker will make 5 waves up (I, II, etc) or only 3 (A,B,C). For now, wave 1/A was a perfect impulse with a nicely subdividing 3rd wave (yellow major-3 consisted of 5 red intermediate waves, with intermediate-iii consisting of 5 green minor waves 🙂 ) Primary (blue) wave II/B was a perfect 62% retrace of all of I/A. Text book! Now price is in (red) intermediate-iii of major-3 of Primary III/C. There’s not been a down month since June (intermediate-ii) thus there’s no indication that iii has even peaked yet. Given the price action I’d say it’s still nicely underway. Also, since it’s extending so much it’s hard to foretell where it will peak. Regardless, once iii peaks, iv and v as well as 4 and 5 to new ATHs are still in the cards, before we can even consider III/c is over. So longer term holders should not be too worried about some downside. I’d be looking for $148s for III/C at a minimum.