Elliott Wave Notes: WIKA

This is my updated wave count for WIKA after taking consideration from EVA analysis before.

Preferred Wave Count

If this structure is correct, we would see a final 5-wave decline before the big bear market which started from 2015 is finally over.

An alternative view says the big bear market has ended. This view depends on wave A being a leading diagonal. But, we should not give much confidence on a leading diagonal. It is rare, so the chances are high that this alternative interpretation is incorrect.

Alternative Wave Count: Low probability