Dec 162008
 

First, why did I choose SBA Comms Corp for this trading idea? The reason is quite simple. Someone drew my attention to a potential wedge like pattern that is bearish. Can this stock go a lot lower that the $9.49 already seen? Perhaps. But for that to happen, we need the next move down to be very aggressive. If we move down slowly, the chances are higher that that move lower is only a 2nd wave correction of a new uptrend. We shall see. Take a look at the Elliot wave analysis of SBA Comms corp in the accompanying chart and you will see the pressure points. Enjoy.
sbac-16-dec-08

  No Responses to “Elliot wave analysis of SBA Comms Corp”

  1. Ramki,

    Thank you for the excellent analysis. However, since your analysis, SBAC has revisted the high $16/$17 per share range. Do you still think it will touch down to atleast the 9-10 area? Many thanks in advance!

  2. […] 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 […]

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