Is it time to buy Nintendo? Here is a short term technical analysis of Nintendo stocks.

1-Hour Chart

Nintendo shows a bullish A wave in progress (drawn with a lime line).

15-Minute Chart

On a smaller 15-Minute chart we may see an inner subwave structure of 3 waves enclosed insider the A wave of the 1-Hour time frame. Waves of M15 are drawn with orange lines. What is a trading strategy? Now we are making a down correction – a possible 4th wave, after which a long trade is workable. However, mind the slope channel drawn with a dashed blue line. This channel protects the bullish 3-wave structure on M15. If it is broken or even touched, you had better forget about buying because it will mean either a new strong A wave down or a bearish correction wave of some older time frame.


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