There is a possible impulse wave in progress. The 21 EMA is approaching a crossover with the 55 EMA. Let's see if price pierces the 100 EMA, which will become a support if successful.
Strategy: Buy breakout of wave (1), then ride wave (3). Once target has been reached, a trailing stop loss may provide greater returns.
Target 2 - 168% Fib Extension or trailing stop loss after Target 1
Other possibility where downtrend continues below the wave (1) low, but will have to break the long-term uptrend again in order to do so.
This post is an idea and not financial advice. Remember to trade safe!
Komen
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Update These are two possibilities to consider.
Option 1 - Still on wave 3 - bullish: I made this update just before option 2.
Option 2 - Wave (3) complete, correction wave (4) in progress - bearish: I have moved the low of wave (1) up slightly, which changes the fib extension target for wave 3 to be met. It looks like we're now on the correction wave, wave (4). A bounce off the 76 EMA is a possibility, before moving up on the next leg up, wave (5). Please not that in order to continue the uptrend, we must remain above wave (1) territory. Failing to do so will invalidate the impulse wave and may downtrend instead.