Elliott Wave 5.0 "Reboot"

Wednesday, March 23, 2016

SWHC Smith & Wesson Holding Corp Review: "Make My Day"

During my reading time, on the internet, I find stories that mention a stock. In this case it was the Smith & Wesson gun manufacturing company. As we can see the turmoil and bombings around the world has been good for business for SWHC.  When I look at the wave pattern and I saw it hit a brand new record high I created a quick wave count. The wave pattern is special as it can fit into a diagonal 5th wave very well. 

You have to keep it in mind that it takes many months and even years to familiarize oneself with the pattern. I don't have the time to keep up on single stock wave counts, but post them only for general information purposes.

SWHC has holes below present prices,  and some time in the future, I am sure it will crash and close all of the open gaps.   When, is the million dollar question and one would have to constantly track it on the 10 day chart level,  to see how it is behaving. 

This stock, could just be finishing a wave three top, so the wave count would have to be broken down into sections,  and then create a more detailed picture of each. 

The crash from late 2007 to late 2008 was a crash that had a zigzag in it, and it is another great example how that initial crash has been completely retraced by 100% and more.  

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