Here is my Elliott Wave take on KAL. Started a very small starter position. ASSUMING the Feb 2025 rise was the start of a bigger impulse (remains to be proven, lot of work to do to validate the setup), there's 2 way to count it:
pink count has us bottomed in ii of 3, and about to start the hearth of the 3rd wave. This is the most immediate bullish count. It's issue is i did not look overly impulsive. It's strength is assumed wave ii in this count does look like a completed corrective structure with a b wave triangle. It's also picture perfect to form a channel, This count has the slight edge for now, but we need to see more impulsive move up to strengthen it, and break over 0.61/0.62 at the very least.
The other bullish count is in blue, where pink i was actually a b wave and we still need lower to finish just 2. Keeping some dry powder for that possibility. That count would make the expected (possible ?) strong move take much longer, as we would still have to hustle through a wave i and ii of 3 before we can expect the strongest part of the move (heart of 3).
In any case, decent risk/reward here for what can be a potential 20 bagger just to complete wave 3. Let's see ifprice action manages to build anything constructive from here, will update as needed.
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