$FREY - RC -
Added 2023-07-23 03:00:08 +0000 UTCI have added in the amber corrective wave here but the chart is not very clear and corrective waves that end high like this is are part of a larger consolidation phase....which we can see that this is between our parallel yellow line and also between the blue line range too.
I am not seeing an impulse wave here and the price action rejected at the 200 Day MA.
The positives are that the price held the blue line which was the previous low and is holding at the 50 Day MA now.
There is still a lot of work to do here but testing the 200 Day MA and flipping it to support will be the next big test, earnings shortly, so it needs to be good.
