This stock is a potential key stock for a couple of markets as its a big weighted stock in both the SMH and AEX. The spike to a new high can still be counted as a 5th wave as the recent gyrations appear to be a thrust from a 4th wave triangle. If you have some knowledge of Elliott Wave, then you will likely know that a thrust form a 4th wave triangle of an impulse wave is a terminal move.

A strong move back below 154.30 is needed to suggest wave 5 is completed and potentially complete larger 5th wave of an impulse wave from the 2009 lows. The large RSI divergence is also supportive of a 5th wave and completion of an impulse wave from the 2016 lows.

Do you have a stock that you want evaluating? Purchase a consultation call and get an independent review through the lens of Elliott Wave. With the US stock markets vibrating around the previous all time highs, it may be prudent to think about protecting any gains you have.

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