On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. Wave pattern suggests the progress of a powerful wave C, which is capable of travelling to $66.29, its 100% projection level.
On the daily chart, the uptrend looks steady. Wave pattern seems to be clearer. Based on the assumption that the wave 5 would be equal to the wave 1, the trend may extend far above $52.01.
The support is identified as the 23.6% retracement of a five-wave cycle from $39.34. The wave c is expected to travel to $47.81, its 100% projection level.