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Subscription: Value Stocks

UTHR - dropped too low

On 8 April 2019 I posted an original report on UTHR. The count expected a completion of correction of the wave ( 4 ) down shaped as a symmetrical triangle. 

UTHR - weekly chart updated on 4/8/2019

Sub Value

Let’s look below on the updated chart. Theoretically we still can count that correction as a triangle.  Sometimes the final wave E of the triangle breaks under support. But that move down makes that setup less reliable LONG setup. The critical support for this long setup is the low of the wave ( B ) down at 81.79. As long as price stays over that level the stock has a potential for another rally in wave ( 5 ) up. If you are not long this stock I would recommend you not to go long here. I would wait for a move up out off that green demand zone followed by a corrective micro a-b-c down.

UTHR - weekly chart updated on 5/22/2019

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