$TMO - RC -
Added 2023-09-24 03:25:55 +0000 UTCWe can see 5 well structured impulse waves in green until the end of 2022 and we are seeing an extended corrective wave right now, it is not confirmed whether the corrective wave has completed in October 2022 but since the start of 2023, the price action has been consistently declining and making lower highs, we can also see that the price has lost the 200 and 50 Day MA and approaching the 0.887 Fib, failure to hold this Fib and we can confirm that Wave C is not in yet and this should come down to the yellow trend line, between the 0.5 and 0.618 Fib between $461 - $412.
The earnings miss in July may have stopped this from turning into an impulse wave and knocked this back and caused the corrective wave to extend.
Either way, when the price breaks above the top yellow trend line, it is turning bullish.
