$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 which unfolded as a complex zig zag with a b-wave triangle; wave is a strong impulse and wave is a simple zig zag.
Wave 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 which unfolded as a complex zig zag with a b-wave triangle; wave is a strong impulse and wave is a simple zig zag.
Wave 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.
