CHOPPY is your friend building into what I think is a corrective Wave 2 Ascending Triangle breakout. IF so, the timing looks to have an earnings surprise of some kind, which of course absolutely nobody like us is expecting. IF true, it would indeed be a breakout like a spring out of a closed box.
My Wave 1 up in Dec 2019 appears to be corrective, but close examination of the sub-wave pattern does reveal a (1)(2)-1-2-3-4-5-(3)(4)(5) impulsive up wave.
My Wave A down of my assumed ascending triangle is corrective 3 waves down but can NOT be a Wave 2 down correction all by itself because it fully retraces my Wave 1 up.
The following B & C Waves of my assumed ascending triangle are the required corrective 3 waves up & down. The MACD & RSI are continuing the positive divergence with a positive up-trend which supports the ascending triangle breakout to come (so far).
So if you understand CHOPPY has positive trending MACD & RSI, you should relax and be happy.
I only believe that this an ascending triangle correction IF Wave C down is completed now and we move up with Wave D. Otherwise, the wave structure is something different. But this is my best guess of what's happening.
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