Komodo (KMD): The Basin Phase is Complete

SUMMARY

The Komodo (KMD) chart is quite bullish. Not only because of the overall rounded bottom pattern and not just because the wxyxz complext waves also seem complete; but also because the basin phase of the rounded pattern is completed as marked by price rising out of it. So, what's next?

The impulse waves are expected to target the $8.91 area. The saucer pattern is now building the right wall of the pattern and wave 3 coincides with the handle formation of a Cup & Handle pattern. Since wave 4 doesn't usually retrace more than 38% of wave 3 and can't overlap with wave 1; it almost always isn't a very deep retrace. The MACD is coiled to support the upcoming, impending surge!

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Elliott Wave Counting Tutorial #1
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Tutorial on the use of Fibonacci & Elliott Waves
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