Continued from Creative Technology Analysis
The price of Creative Technology breakout from correction on 19th Sep 2018 as described in previous analysis. Though the correction pattern is able to use an Elliott Wave double-three (zigzag – triangle) combination pattern to describe, it is still pretty unsure whether the whole price performance (from past to future) follows Elliott Wave. Creative Technology fell from $10 to a low of $5 during the correction and the Elliott Wave count reached the end of the correction at $5.66. The lowest price of Creative Technology since the peak in 2000 is at $0.855 happened in September 2015. If from that point to $10 is considered a wave 1 in Elliott Wave, the depth of the correction at $5 is between 50% to 61.8% Fibonacci Retracement while at $5.66 it is between 38.2% to 50% Fibonacci Retracement….