SUMMARY
Sears Holdings (SHLD) has been kicked around like a worthless empty can. However, as a Technical Analyst, the below chart is quite intriguing. Just the pattern of the downward wedge speaks volumes for potential. Probability is leaning more and more towards a potential breakout that coudl surprise many SHLD bears.
When adding the Elliott Waves, the ABC correction shows how it fits into the wedge pattern. The C wave is sublabeled as wxyxz sequence. Price is very close to the apex and the more proximal it gets, the more close the breakout event. Now, see how the MACD is also coiling and getting ready to explode. Would you be taking buying or selling actions at this point for SHLD?
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
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Tutorial on the use of Fibonacci & Elliott Waves
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AST UPDATE
@haejin Sears Holdings (SHLD) is attempting to exchange some of its outstanding notes for new notes and also amend its second-lien term loan in order to allow the interest to be paid in kind at Sears's option, and in the case of the 6.625% Senior Secured Notes due 2018, push back the maturity date until 2019.
Any news about #Publica -PBL-, mr @haejin?
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