Technical analysis by WoWAcEDuDe about Symbol NOT: Buy recommendation (6/25/2024)

Within the ascending channel, a five-wave impulse and an ABC correction have been completed, reaching the 0.618 Fibonacci level. The price has encountered the first resistance level (res).Based on the fractal from the initial five-wave pattern, there is potential for growth towards the upper boundary of the channel, into the Fibonacci zone 1.236 - 1.382. From there, an ABC correction is expected towards the Fibonacci zones of the second subwave 3(2) of the global third wave. Subsequently, I anticipate the formation of the first subwave of the third global wave 3(3-1).The Alligator indicator shows an upward trend. There is a support level (sup) below. The scenario will be invalidated if there is a breakout and consolidation below the support zone (sup).