IDT - go longIDT CorporationBATS:IDTHM_TNCWave 1: Initiation of Uptrend IDT's price began a notable ascent from approximately $47.10, reaching around $58.77. This movement likely represents Wave 1, characterized by an initial bullish impulse. Wave 2: Corrective Pullback Following the initial surge, the stock experienced a retracement to the $45.67–$47.23 range. This pullback aligns with Wave 2, a corrective phase typically retracing a portion of Wave 1's advance. Wave 3: Strong Upward Movement The subsequent rally propelled IDT to a recent high of $68.62, marking a significant gain. Wave 3 is often the most powerful in the Elliott Wave sequence, and this movement fits that profile. reddit.com +1 reddit.com +1 Wave 4: Anticipated Consolidation Given the substantial rise, a corrective Wave 4 may ensue, potentially bringing the price back to support levels around $53.31 or lower. This phase would serve as a consolidation before the final upward push. Wave 5: Final Leg of the Uptrend Should the pattern continue, Wave 5 could drive the stock to new highs, possibly testing or exceeding the $70–$75 range, completing the five-wave cycle.