SWKS has now reached the ideal primary IV targetzone (23.6-38.2%) retrace of all of Primary III, but so far there is no sign of a reversal yet. Given that Primary II took about 1 year to complete, whereas the current correction has only been ongoing for for 2 months, it appears IV is time-wise not completed. So far major a is forming a clear zigzag and IMHO the ideal wave-c extension (1.382 or 1.618) has not been hit yet suggesting further downside. However a zigzag is a 5-3-5 type, and one can count 5 waves down from the intermediate b low, however it’s not clear cut, so I am not 100% certain here yet . CONTINUED BELOW CHART
Also the weekly chart -below- doesn’t provide any buy signals yet; suggesting to be patient. However, we do see the RSI5 having entered very oversold territory (most in over almost 3 years), as well as the A.I. and FSTO reaching oversold (red circles). But, as said, no buy signals and no signs of a reversal yet. So let’s be patient and let the market work things out: enough time to jump on the band wagon.