$UWMC - RC -
Added 2023-07-05 10:57:05 +0000 UTCAs long as the price action stays above the 50 Day MA in blue, it can proceed higher to complete Wave 5, so the price action is still in the bull case now.
Any loss of this MA and this can come down, to next test the 200 Day MA which is exactly on the channel trend line now.
I believe right now, half way up Wave 5, this is not somewhere I would consider starting a position.
Waiting for a pull back after Wave 5 would make since and this will likely come down to the bottom of the trend line in yellow then.
