Northrop Grumman Corp. (NOC): Subwaves Tell Alot!

SUMMARY

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From this chart of Northrop Grumman Corp. (NOC), once might label the waves and consider that white wave 3 is likely complete and expect a wave 4 decline to occur. However, subwave counting is crucial to be able to qualify the higher degree of trend labels as well as add details otherwise not discernible.

White wave 3 is actually not yet complete; per the blue subwaves. The current peak is that of blue wave 3 and likely not that of white 3. That means that blue 4 and 5 remain, so white 3 has a bit more to rise. Once it completes, the whtie 4 is expected to retrace at least 40% before giving way to white 5. The MACD should rise to support the blue 5 coming rise.

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