The Toronto-Dominion Bank (TD), together with its subsidiaries, 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.
TD ended wave I as impulse sequence at $86.02 high & below there, it correcting lower in zigzag sequence in II. It confirmed the lower low sequence in daily, expecting weakness in ((C)) leg of II.
TD – Elliott Wave Latest Weekly View:
From March-2020 low of $33.74, it started impulse sequence higher. It ended ((1)) at $51.34 high on 8/27/2020. Below there, it favored ended ((2)) at $42.90 low as 0.5 Fibonacci retracement against ((1)). It ended ((3)) at $73.85 high on 5/27/2021 as third wave extended sequence. It placed ((4)) at $62.81 low on 9/20/2021 as 0.382 Fibonacci retracement. Finally, it ended ((5)) at $86.02 as wave I impulse sequence from March-2020 low. While below there, it favors lower in II correction in zigzag sequence.
TD – Elliott Wave Latest Daily View:
Below $86.02 high, it placed ((A)) as diagonal at $57.27 low on 10/13/2022. While above there, it finished ((B)) as 3 swing corrective bounce at $70.67 high on 2/14/2023. It already breaks below ((A)) low, calling for weakness in ((C)) leg in II towards $41.94 – $35.15 area & should hold above $33.74 low to see at least 3 swing bounce or may resumes higher in III, which confirms above wave I high. It favors lower in (1) of ((C)) & expect a bounce soon in (2). (2) should fail in 3, 7 or 11 swings against ((B)) high to see short term weakness to continue.
Elliottwave Forecast updates 1-hour charts four times a day & 4-hour charts once a day for all our 78 instruments. We do a daily live session, where we guide our clients on the right side of the market. In addition, we have a chat room where our moderators will help you with any questions you have about what is happening in the market at the moment. You can try us for 14 days for only $9.99.
Back