Wednesday, May 28, 2014

APOLLO Education (APOL:NYSE) likely to continue downtrend

Technically, APOL price chart shows a prior clear down trend which had finished wave 4, then continued with wave 5 in an ending diagonal of 3 waves a-b-c.  Wave c in the diagonal ended in a mini-triangle.

Following wave 5, a zig-zag correction in waves a-b-c with wave c showing patterns of a triple top.

Combining wave C tail and a triple top can mean a strong resumption of the prior trend, that is downtrend.

The ending diagonal in wave 5 actually signalled a reversal of trend, to uptrend.
However, the subsequent zig-zag and a an obvious c-wave with triple tops most likely signal the end of the correction and mostly likely will lead to the continuation of the previous downtrend.


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