Moody’s Corporation Wave Analysis – 12 November, 2021

• Moody’s Corporation reversed from support level 385.50

• Likely to rise to resistance level 406.08                                                                  

Moody’s Corporation recently reversed up from the pivotal support level 385.50 (former strong resistance from August and September) and the 38.2% Fibonacci correction of the upward impulse (1) from October.

The upward reversal from the support level 385.50 stopped the earlier intermediate ABC correction (2).

Given the strong daily uptrend, Moody’s Corporation can be expected to rise further toward the next resistance level 406.08 (previous top of wave (1) and the target for the completion of the active impulse 1).