FEYE, INTC, WYNN updates 10/31

Please refer to the wave-labeling page to assess wave degrees: here.

FEYE: Counts best as having completed (red) intermediate-iv of major-5. Price should now be in intermediate-v of major-5 to new all time highs. Although one can make the case for all of (black) major-5 to have peaked instead of that being intermediate-iii, the RSI5, MACD-histogram and Money Flow Index (MFI14) had maximum readings at what is labeled here as wave 3 of iii. That’s rather common and supports the presented count. The MFI14 was almost negative at the here labeled “iv” wave, and now it is starting to point back up as well as the other technical indicators. FEYE reports earnings after the closing bell on 11/2 and may have a positive reaction based on this count. Doesn’t mean one should jump all in…

feye daily

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INTC: Clearly surpassed the (green) ideal 1.618x extension I had for a minor-3 wave and is thus extending. Long term members know that extensions can never be predicted before hand. All we can forecast are standard Fib-extension targets. Thus minor-3 is still underway, eventually minor-4 will take hold and should bring price -ideally- back to the break out level (gap fill), then minor-5 will complete (black) major-3. The Major-4 and 5 will follow. Here’s an interesting tweet/article on a comparison between INTC and MSFT’s price charts. Although past performance is no guarantee for future results, it’s good to note especially since it fits with the wave count presented. For now it’s hard to give exact price targets for major-3, 4 and 5 since I’ve no indication yet minor-3 has topped. A drop below last week’s open on earnings will tell me minor-4 is underway.

intc

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WYNN: Looks ready to break out over $150 as it has been basing for 2 months now between $150-$140. Thus the breakout targets, based on symmetry: $160, which is also around the ideal (green) minor-5 target zone. This zone is based on the standard 1.764-2.00x Fib-extensions for a 5th wave. For now, the price-action counts best as minor-5 underway to $152-$154. The TIs are starting to point back up, wanting to see higher prices, which is in line with the preferred count. A break below last week’s low -can be used as a stop- means my count is incorrect and that major-5 has already topped…

WYNN