Wave V has likely started

Constellation Energy resumes its uptrend after completing wave IV. Bullish Elliott Wave structure points toward a strong wave V rally. Constellation Energy Corporation (CEG) has completed a textbook Elliott Wave correction and appears to have resumed its bullish trend. The stock experienced a powerful advance from mid-2022, which unfolded in five clear waves, completing a higher-degree wave III around early 2024. Following that rally, CEG entered a corrective phase. The decline unfolded in a classic three-wave structure labeled as ((A))-((B))-((C)). This correction likely ended wave IV, completing around $161.33. The internal subdivision of wave ((C)) shows a clear five-wave move down, supporting the idea that the correction is done. Since then, the price has bounced sharply, indicating that wave V may already be underway. Early price action shows a developing five-wave structure. Wave (1) and (2) appear to be in place, and wave (3) is likely in progress. This aligns with the bullish Right Side tag on the chart. We do not recommend selling, as the dominant trend remains to the upside. The invalidation level stands far below at $71.21. As long as the stock stays above this level, the bullish view remains valid. The dotted lines suggest a projection path for the next impulse higher, potentially targeting levels above $360 in wave V. Our strategy is to trade in the direction of the Right Side tag and only take positions during pullbacks into blue box areas. At this stage, we favor long positions on dips, ideally in wave (2) or wave (4) of the ongoing sequence. Summary In summary, the wave IV correction is likely complete, and wave V has probably started. With a strong technical structure and bullish momentum, Constellation Energy remains a high-potential name to watch in the coming weeks and months. Source: https://www.fxstreet.com/news/constellation-energy-ceg-elliott-wave-update-wave-v-has-likely-started-202505081207