WSC – Is it continue to resume higher?

WillScot Mobile Mini Holdings Corp., (WSC) provides work space & portable storage solutions in the US, Canada, Mexico & UK. The company leases modular space & portable storage units to customers in the commercial & industrial, construction, education, energy & natural resources, government & other end markets. It is based in Phoenix, Arizona, US, comes under Industrial sector & traders as “WSC” ticker.

In early 2020 global sell off, WSC made all time low at $7.45. Thereafter, it made all time high at $42.00 as impulse 5 swing sequence. Below there, it has ended 3 swing correction at $31.97 low & favors higher either in the next cycle up or larger 3 swing bounce.

WSC – Elliott Wave latest daily view

It made all time low at $7.45 on 3/19/2020. While above there, it started impulse sequence up & placed ((1)) at $18.74 high on 8/28/2020. It has ended ((2)) at $15.73 low on 9/24/2020 as a shallow correction. It favored ended ((3)) at $30.38 high on 4/29/2021 & placed ((4)) at $26.15 low on 7/19/2021 as 0.236 retracement against previous cycle. Finally, it ended ((5)) at $42.00 high on 1/05/2022 as impulse I red. While below there, it placed II at $31.97 low as 3 swing correction & resumes upside.

Below $42.00 high, it placed ((A)) at $34.95 low & ((B)) as flat correction at $40.73 high. While below there, it placed ((C)) as diagonal at $31.97 low towards equal leg area. Above there, it favors upside in wave 1 & later expect a pullback of 2 before upside resumes. It needs to breaks above $42.00 high to confirm III in progress to avoid a possibility of double correction in II. We like to buy the pullback in 3, 7 or 11 swings, once it confirms III in progress.