#QPOWER - continues to respect the structure of its post-breakout trend.
- Wave (IV) has retraced nearly 61.8% of Wave (III) — a healthy corrective phase within an ongoing uptrend.
- Wave (V) projection points towards ~33% upside from current levels if the Elliott Wave structure plays out.
- Price is taking support near the All-Time High breakout zone — a classic case of resistance turning into support.
- Consolidation is happening on low volumes, indicating a lack of aggressive selling pressure.
- Price continues to hold above the major moving averages, keeping the broader trend intact.
- The correction has been more of a time-wise consolidation than a sharp price-wise correction, which is constructive for the trend.
-Higher highs and higher lows remain intact on the daily chart, suggesting the primary uptrend is still alive.
- Risk-reward remains favorable as long as the breakout zone holds.
⚠️ Invalidation Point:
A decisive breakdown below the All-Time High breakout support area would weaken the bullish setup and could signal a deeper correction.
📈 As long as support holds, this appears to be a healthy consolidation before the potential start of Wave (V).
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