The overall uptrend, however, remains valid. The bounce at the 38.2% Fibonacci level suggests an Elliott Wave 4 pattern. The current ABC pullback (orange) has probably completed a wave 4 (grey) at the 38.2% Fibonacci retracement level. On the 4 hour chart, Siemens seems to have completed the 5 wave pattern in the wave C. A 5 wave leading diagonal seems to be unfolding in wave 1. The Siemens (SIE) stock price made a bearish pullback after failing to break the top. Price action made an ABC pattern rather than full uptrend as our previous analysis expected.

https://www.fxstreet.com/news/siemens-sie-stock-bullish-bounce-after-bearish-abc-pattern-completed-202106100722

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