Potential Long 5th Wave, ElliottWave Move for STT

Using our Elliott Wave Indicator Suite for the TradingView Platform we have identified a potential Long 5th Wave Swing Trading Opportunity for STT on the Daily time frame . The 5th wave move in an elliottwave sequence is the highest probability move. The catalyst for the current wave 4, profit taking, pullback was Earnings and it does seem to have found support.

The wave 4 pull back has found support in the Green zone of our probability pullback zones, which represents an 85% probability that our automated 5th wave target zone, in blue on the chart, will be hit. Further more the profit taking pull back is at major support and resistance zone from previous earnings reactions.

We see yellow dots formed in the overbought zone on our special False Breakout Stochastic indicator, which signals strong Bullish momentum. When, during a wave 4 pullback, the stochastic pulls back against these false break out dots and crosses in the oversold zone, there is a high probability the stocks price action will resume the overall bullish trend .

We also measure the wave 4 behaviour with our Elliottwave oscillator, which has pulled back within our pre-determined zone.

So overall we have identified, using our Elliott Wave Indicator suite for TradingView, a high probability long swing trading opportunity for STT , with the following entry strategy:

We use our 6/4 MA High for initial starting point for long entries and take into consideration and recent pivots during the 4th wave pullback.

Long entry through $80.09
Stop Loss $74.96
Target $90
Giving a Risk to Reward of 1:2