Live Nation Entertainment Inc. (LYV): The Correction Probably has Lots More to Go!

SUMMARY

Live Nation Entertainment Inc. (LYV) broke out of a symmetrical triangle pattern and impulsed to five waves as shown in the below chart. It's likely that the correction has already initiated since after every five wave move, there is a requisite retracement. Would this be the time to be taking a buying or selling action?

The blue subwaves of white 5 show a completion of five waves. Since the initial down draft has already started bouncing, red B wave bounce is in progress. Many might be thinking that the correction is over that that new all time highs will be arriving. However, there is the red C wave that remains and the target for this is set at 0.618 Fib zone. This will usually is accompanied by lots of panic selling episodes.

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: 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.

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