$JSEDCP - Dischem: Great Run, But I Count Five Waves
See link below for previous analysis.
Dischem has had a stellar run from the 2154 low, tracing out a textbook five wave advance.
Wave is a leading diagonal followed by wave[ii] which unfolded as a complex zig zag with a b-wave triangle; wave[iii] is a strong impulse and wave[iv] is a simple zig zag.
Wave[5] can unfold as an impulse or ending diagonal and looks likely to take price towards 3300 cps.
Buying fifth waves is risky as on completion of the five wave advance, a three wave correction follows.
I will remain bullish but with caution.
Dischem has had a stellar run from the 2154 low, tracing out a textbook five wave advance.
Wave is a leading diagonal followed by wave[ii] which unfolded as a complex zig zag with a b-wave triangle; wave[iii] is a strong impulse and wave[iv] is a simple zig zag.
Wave[5] can unfold as an impulse or ending diagonal and looks likely to take price towards 3300 cps.
Buying fifth waves is risky as on completion of the five wave advance, a three wave correction follows.
I will remain bullish but with caution.
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