SUMMARY
EOS has been on a tear during the past week and now it's taking a rest. How do I know? Well, let's look at the below chart. From the bottom left, EOS completed circled white waves i,ii,iii,iv,v. This was an impulsive set of waves. Elliott Waves states that after five waves, there is a reaquisite retracement and this often occurs as an a,b,c three waves as shwon below.
Now, red wave b is also shown to have completed its five subwaves (white circled 1,2,3,4,5). This gives confidence that the requisite a,b,c correction could be complete. The green circled waves also is a smaller scale impulse. What is the best confirmation of a trend reversal? An impulse set of waves in the opposite direction. So, yes, the a,b,c could be complete and the price pathway is shown for higher highs by the parenthesis roman numerals (i), (ii),(iii),(iv),(v). The new target is $1.70 as a shorter term target.
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Legal Mumbo Jumbo: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.**