$UWMC
Added 2023-11-30 15:10:22 +0000 UTCIs a company that focuses on mortgage sales and is certainly stuck between two scenarios here.
The bounce since Sept '22 has not looked impulsive but it can be a leading diagonal for Wave 1 and since it held the 0.618 Fib, which is the perfect spot to hold for Wave 2, we must consider Wave 1 as a possibility here and the price is back above the 200 Day MA too.
A break above $6.97 and the impulse wave is confirmed and it will move up to Wave 3 at $11.20.
That being said, the mortgage market is in a difficult position right now with rates being so high, so if there is any rejection below the blue line, the price can come down to our Wave B target.
