TD: Short Term Bounce Should Fail & Resume Lower

The Toronto-Dominion Bank (TD) provides various financial products & services in Canada, US & internationally. It operates through three segments: Canadian retail, US retail & Wholesale banking. It is based in Toronto, Canada, comes under Financial services sector & trades as “TD” ticker at NYSE.

As discussed in the previous article, TD ended wave I as impulse sequence at $86.02 high & favors lower in zigzag sequence in II. It confirmed the lower low sequence in daily, expecting weakness in ((C)) leg of II towards weekly blue box area. Currently, it favors corrective bounce in (2) in 3, 7 or 11 swings against ((B)) high before downside resumes in (3).

TD - Elliott Wave View From 3.20.2023: 

In weekly sequence from $33.74 low, it placed I at $86.02 high as impulse. It ended ((1)) at $51.34 high & ((2)) at $42.90 low as 0.5 Fibonacci retracement of ((1)). It ended ((3)) at $73.85 high as third wave extension & ((4)) at $62.81 low as 0.382 Fibonacci retracement. Finally, it ended ((5)) at $86.02 as wave I impulse sequence on 2.11.2022 high. While below there, it favors lower in II correction in zigzag sequence.

TD- Elliott Wave Latest Weekly View: 

Below $86.02 high, it placed ((A)) as diagonal at $57.27 low on 10.13.2022. It favored ended ((B)) as 3 swing corrective bounce at $70.67 high on 2.14.2023. It already showing lower low sequence below ((A)) low, calling for weakness in ((C)) towards $41.94 - $35.15 area & may hold above $33.74 low to see at least 3 swing bounce or may resumes higher in III, which confirms above wave I high. Currently, it favors bounce in C of (2) bounce against ((B)) high before downside resumes in (3) of ((C)). It can bounce towards $64.87- $69.00 area & should fail below ((B)) high to resume lower in (3).

TD - Elliott Wave Latest Daily View: 

Source: https://elliottwave-forecast.c...