If ever there was a textbook example of a 5 wave impulse, this is it.
The beauty of the EWP is that one can use it for macro and micro forecasting.
Here, i look at the monthly chart of ALGN and one can see since listing, a textbook 5 wave advance from the 2002 low to the peak in 2022, make that a 20 year bull market.
What is even more interesting is that the big corrections for wave II and wave IV coincide with the 2008 Global Financial Crisis and the sell-off from the Covid-19 pandemic.
The share is currently trading 64% below its all time highs. Though this is a significant discount, the share can still go lower but the long-term cyclical prospects look very good.
The beauty of the EWP is that one can use it for macro and micro forecasting.
Here, i look at the monthly chart of ALGN and one can see since listing, a textbook 5 wave advance from the 2002 low to the peak in 2022, make that a 20 year bull market.
What is even more interesting is that the big corrections for wave II and wave IV coincide with the 2008 Global Financial Crisis and the sell-off from the Covid-19 pandemic.
The share is currently trading 64% below its all time highs. Though this is a significant discount, the share can still go lower but the long-term cyclical prospects look very good.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.