$SPOT - RC -
Added 2023-09-05 12:09:46 +0000 UTCI see this firmly in its corrective wave here and waves have been moving in very aggressive moves too, which is not typical of an impulse wave....unless it is Wave 3 and this is certainly not Wave 3.
Those who have been following our chart on this will remember when we advised caution on the ascending wedge in July and said that we expected a break to the downside next....the stock caught some off guard by initially breaking to the upside before the earnings and when the report was released, it violently broke down.
I continue to advise caution here and let the corrective wave play out....I also think buying at Wave C here would present a very good opportunity and it is something we will watch for towards the end of the year.
