Tyco has been trending very strong for the last year and half, and is currently trading just below the 52-week high.
A small correction channel (wave A) may provide advance warning of a run at wave B, and then a 50% retracement in wave C.
If price moves above $39.15, another re-test of $41.14 is anticipated. There is minor resistance at $40.93, so the price will need to also climb through that.
If the price advances below 0.61 Fibonacci retracement, the next target is $35.19. Once the breakout occurs, a stop can be placed at 0.75 Fibonacci.
A small correction channel (wave A) may provide advance warning of a run at wave B, and then a 50% retracement in wave C.
If price moves above $39.15, another re-test of $41.14 is anticipated. There is minor resistance at $40.93, so the price will need to also climb through that.
If the price advances below 0.61 Fibonacci retracement, the next target is $35.19. Once the breakout occurs, a stop can be placed at 0.75 Fibonacci.