The Long Investor

$YINN

Added 2024-10-28 12:17:24 +0000 UTC

$YINN I believe has moved like $BIDU and has pulled back in 3 waves after completing Wave 5 at $58.

We can see that Wave 3 completed at the 1.618 Fib at $51 but Wave 4 was short and fast, whereas Wave 2 was very long and drawn out......this tends to happen with Wave 4 when Wave 2 is long

But it does make our job harder to find the waves.

Nevertheless, $YINN has pulled back to its 0.618 Fib and has held at this level and we are watching for signs of a new impulse wave, so far we have a higher high and higher low and holding above the blue support line at $33.

This is a very good start.

If $YINN can get above the 0.5 Fib at $36, which is also the 1hr 200 Day MA, then I believe the next target will be $46 and I will add in the next impulse wave for Wave 5.....but the Second Target remains the aim for Wave 5.