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American Express Co., Elliot Wave Analysis

3/23/2023 10:28 AM

Growth is possible.

On the daily chart, the fifth wave of the higher level (5) develops, within which the wave 3 of (5) formed, a downward correction ended as the fourth wave 4 of (5), and the formation of the fifth wave 5 of (5) started. Now, the third wave of the lower level iii of 5 is developing, within which the wave (iii) of iii has ended, and the wave (iv) of iii has formed. If the assumption is correct, the asset will grow to the area of 193.45–213.40. In this scenario, critical stop loss level is 154.50.

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