HUBC - H1/H4 Analysis - 28-02-2023

The scrip unfolded in five waves in blue 1 suggesting the reversal in the trend. Currently, the price must retrace in a minimum of three waves according to the rule. The rise after wave (A) is not particularly appealing, and it appears that it failed to spark bulls' interest for the time being. Given that this rise broke the high of blue wave 1 and had a triangle in the middle, it was likely a correction. There were two potential structures left by the new high. If the upcoming decline finds support in the wave (B) price range, it would be running flat, which is a powerful trend continuation pattern. Else, it appears as expanding flat by breaking the low of wave (A).

Alternative View:

Alternatively, the scrip already completed the blue wave 2 and currently developing wave 3. This suggests bulls are motivated to push the price even higher.
Bottom line. both counts suggest a bullish move sooner or later.