The chart shows that there are three different cycles at work on this daily chart.   There is currently upside pressure being applied to price.   You will note that price found support at each of the price objectives for the move down in red.  It also found resistance at the first price objective, P, noted in black.  The short cycle in blue indicates that price could find resistance at P, 33.18 and then at the next two price objectives for the up move.  At this point the down move has not been voided.   The target price for the major move higher, not shown, is 40.14. This analysis is based upon the daily chart only.  Ira.