In our post of 16 December where we presented Elliot Wave Analysis of SBA Comms Corp, we said that for this stock to come down, we really would like to see a fast paced move in that direction. Otherwise the risk increased to the upside. The main reason for this is we have already gone up more than 61.8% of the most recent leg of the downtrend, and at this late stage of the progression, it will be quite unusual to see such a recovery if there is more weakness to come. Take a look at the attached chart. It gives you another elliot wave trading idea.
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