FEYE, VZ updates 03/07

FEYE: Daily chart shows detailed count with a 5-wave structure to I/A. This is confirmed by the weekly chart. Question now is if II/B bottomed in February or if we’re dealing with a more complex flat type of correction. I prefer the former. Resistance is now obviously at $18. Break above it targets 19.50 based on symmetry off the green $16.05 S/R zone. For now the trends (short term to long term are up) as price is above the 20d, 50d, 200d SMAs and they are getting bullishly stacked: 20>50>200. That’s good 🙂 Overall I am looking higher for this stock, even a simple C=A should target $21+, which fits with the symmetry break out target

feye dailyfeye weekly

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VZ: Counts all very well big picture-wise with a cycle-1 and cycle 2 high and low, and than potentially 5-waves up off that C-2 low to complete a Primary I wave. Question now is if all of Blue Primary I has completed or if (yellow) major-5 will subdivide. Hard to say until either price breaks below (yellow) major-4 or above “b?” at $54.77. Thus better to stay out until a clearer picture is painted.

VZ monthly