EL is/was a beautiful looking chart, although I wish you had asked me about it back in April when it put in that big divergent low on the daily & weekly charts (both below).

More upside in the coming months likely, assuming the stock market doesn’t shit the bed (also likely). Price targets denoted by the arrow breaks, although right now I favor a pullback since the stock just rallied into big gap resistance on the daily chart.

If so, objective long entry to come on a pullback to that uptrend line & if not (i.e- EL solidly powers thru the gap resistance) then one could take a position there although personally, I wouldn’t chase it this overbought & would prefer to go long on a pullback/correction.

Thanks so much!

I looked at CNC earlier today since they’re the one that started the (bloodbath) party in the sector today. Despite the massive drop & extreme oversold conditions, I didn’t (and still don’t) like the chart since the stock is in what I call “no man’s land”; smack in the middle of long-term support & resistance (the 41.37 key support that was taken out today). Plus, no divergences on the weekly chart to boot. Here’s the chart…

‘Why Michael Burry Just Sold All His Stocks’
https://www.youtube.com/watch?v=WRAbUNqal6g

I’m not copying his moves, just being mindful.