Technical analysis by kofc about Symbol SUPER: Buy recommendation (10/1/2024)

According to Elliott Wave Theory, in a WXY correction, the X wave can sometimes form a triangle pattern, but this is not common. The X wave is usually a correction wave and in most cases it forms in the form of a zigzag, flat or other complex correction. Triangles are usually of the expanding or contracting type and are usually seen when a consolidation and change of direction are expected in the market. Triangles are usually seen in situations such as the last wave (e.g. B wave or 4th wave). However, in complex corrections such as WXY, a triangle formation can rarely be seen within the X wave, especially when the X wave is more consolidating. In a WXY correction, the X wave typically represents an intermediate correction of the previous move and the triangle pattern may be suitable for such a structure. In the current rise, the X peak is the entry point for buying LONG. An increase towards the C of the large ABC structure is observed.