Technical analysis by WaveFibs about Symbol FET: Buy recommendation (5/27/2025)

📊 Wave Count & Channel-Based Elliott Wave Technical Analysis🔵 Wave 4 Structure (Completed) Wave 4 developed as a classic ABC corrective structure to the downside. 🔹 Wave A: Initial decline with impulsive characteristics. 🔹 Wave B: Partial retracement with overlapping, corrective traits. 🔹 Wave C: A clean final leg completing at the 1.236 Fibonacci extension of Wave A, which is a common target for a C-wave.📍 Wave 4 and Wave C terminate exactly at: 1.236 Fib extension, or approximately 0.306 from Wave C's origin — as defined in Elliott Wave theory .This matches the expanding channel structure described in the slides: “Wave 4 can be a flat or zigzag... target range between 23.6% and 50%, but extensions (e.g., 1.236) are valid for C-wave finalization.”🟡 Current Setup: Anticipating a Wave 5 MoveWe now shift from the completed corrective Wave 4 to a new advance phase, expected to unfold as another ABC corrective structure to the upside (per the yellow count):🔶 Wave A (Expected Now) The beginning of Wave A is currently developing. Based on structure, Wave A can unfold as either a 5-wave impulse or a 3-wave zigzag: "The only micro structure for direct upside continuation I could think of here is that this here was an Awave... this was a Bwave and this is a Cwave... but there is just no five-wave move up right on the smaller time frame" (Video transcription) Since there’s no confirmed 5-wave count yet, the current move is assumed to be part of Wave A, possibly still forming sub-waves.🔸 Invalidation and Confirmation Levels The key upside level to break: $0.9912 A move above this level invalidates the C-wave down scenario and confirms bullish continuation. From the project video: “Getting above that level would invalidate the idea that a C-wave to the downside has started...” Once broken, the target for the current bullish Wave A or full 3rd wave remains unchanged at: $1.17, previously defined as the next target for bullish continuation🔺 Channel Structure & Confluence The contracting diagonal from the start of the chart aligns wave 5 and wave C tops — both terminated at the same horizontal resistance level. Wave 4's expanding correction supports this shift in volatility before Wave 5 begins, as outlined in the slides: “Wave 4 can be an expanding triangle or flat... diagonal patterns often create increased volatility before reversal”✅ Conclusion Wave 4 has completed via an ABC down, ending at the 1.236 Fib extension of the internal Wave C. We are now in a potential ABC to the upside, with Wave A currently in formation. Awaiting confirmation of 5-wave completion in Wave A. Break above 0.9912 triggers continuation to $1.17 target. All trendline structures, wave counts, and Fib levels are in strict alignment with the educational material and screenshots.