CHDC Elliott Wave Analysis: 3rd Wave Breakout Setup at 2430

CHDC is approaching a key Wave 1 breakout at 2430. A sustained breakout could confirm the start of the 3rd wave, with 2717 as the next major confirmation level. Alternatively, a 1-2, 1-2 sequence may develop before the larger rally. SL: 2130.

Signal: bullish

Current Elliott Wave count: Wave 3rd of 5th

• Preferred levels:
• Resistance: 2717
• Stop Loss: 2130
• Invalidation: 1967
• Breakout: 2430

CHDC – Elliott Wave Analysis Our preferred count suggests CHDC is approaching a breakout of Wave 1 high at 2430. A sustained breakout above this level would provide the first confirmation that the 3rd wave rally within the larger 5th wave has begun. The key invalidation and SL remains at 2130 , the Wave 2 low. For stronger confirmation, CHDC must eventually break above the X-wave high at 2717. Alternatively, the stock could develop a 1-2, 1-2 sequence before the larger 3rd wave advance. In this scenario, a breakout above 2430 could take price toward 2500, followed by another Wave 2 correction before the next major rally.