TREX Co. (TREX): Danger Will Robinson!!
SUMMARY
Trex Company (TREX) is in the terminal stages of an impulse phase. The below chart shows the weekly chart with the blue impulse wave labels. Wave 5 is about to be tagged to completion, if not already. Look also the vertical nature the price climb has been since the latter stages of blue wave 3. This should be blazing the warning of a probable correction to the tune of 0.5 to 0.618 Fib level.
The subwaves confirm the higher degree of trend markings. Blue wave 2 was an ABC flat and the five subwaves of blue 3 is complete while those of blue 5 has just a bit more to go; though, it could already be complete. The ABC correction is labeled so that C targets the 0.618 Fib zone. This would be a significant decline to be very wary of. The MACD could do a moderate rise IF there is any more price rise left in the white 5 of blue 5 wave. However, that is currently speculation because the number one concern should be safety of capital!
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