KKR & Co. (KKR): Mumbo Jumbo?

SUMMARY

For newbie Ellioticians, the below type of chart often leads to confusion. It has alot of overlapping waves and there seem to be no real impulse direction and all seems to be going sideways. With practice, everything becomes easier. What I've always done is try and identify a pattern. Can you discern one in this chart?

KKR is likely patterning out an ascending right triangle as shown below. The horizontal blue line and the rising line together form a right triangle. Within this conceptualization, the pattern now jives well with the overlapping ABC red waves. The purple waves also mark the expected ABCDE waves. Purple wave D seems to be completing soon while E should be next. Once E is complete, the pattern will be complete also and a decisive breach of the upper blue line would provide the confirmation. MACD should also support the price moves.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?

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