SCB Elliott Wave: Triangle Preceding Wave 5

SCB bullish setup with triangle in wave 4, stop loss at 594.90

Signal: bullish

Current Elliott Wave count: Wave 5th

• Preferred levels:
• Stop Loss: 594.90
• Invalidation: 594.90

Based on the Elliott Wave analysis of SCB, it appears that the stock is currently navigating a 4th wave triangle consolidation pattern. This suggests that we may be due for a push to higher prices in the impending 5th wave. However, a key level to watch is 594.90, as a breach below this price would invalidate the triangle formation and trigger a stop-loss, effectively negating the current wave count.