DexCom Inc. (NASDAQ: DXCM) appears to have completed a five-wave impulsive advance followed by an A-B-C corrective structure, according to S1 analysis.
The Wave (C) of DexCom Inc. may have bottomed near the 67.8% Fibonacci retracement, at approximately $53.76. The author of the S1 analysis believes the reaction from this support increases the probability that a new impulsive cycle has begun.
$53.76
Approximate Wave (C) bottom at 67.8% Fibonacci retracement
The bullish interpretation for DexCom Inc. would weaken if the price breaks decisively below the recent Wave (C) low. Following its earnings, DexCom is considered a cautious buy.
Price Targets
Medium-term targets are projected between $300 and $318, while long-term targets extend to the $450–$483 range.
