25th May 2022
Price is constrained between support and upper channel boundary. The indicators favor the breakout into the Minor 3rd but without a reason to do so it can also flatline into a fade.
6th May 2022
The hourly chart shows perspective for this attempt to reverse the trend. A smaller channel supports the breakout pattern. The 1-2 addresses the 0.618 retrace ratio. An upward move from here is indicated. A higher high with reduced RSI response will encourage.
4th May 2022
The bounce makes a break out attempt at the upper channel boundary. A break out and test 1-2 pattern is expected.
28th April 2022
Returning to the daily chart the Primary wave  has opted for the higher degree 5-3-5 pattern. In the previous chart the expectation of the upturn caused blinkers to the ABC form of the assumed 1st Minor wave. While the RSI scrapes the lows a 3 point alignment of the price action lows occurs as the 0.618 Primary retrace is breached. The C-leg of  is now at a price ratio of 0.5 of the A-leg and tomorrow is the last trading day of April. A turn here is thereby indicated even stronger than before. Nonetheless this retrace is not complete until it confirms and equal legs for the pattern points to a price of 90.
5th April 2022
The hourly chart indicates the probable completion of Minor wave 2.
23rd March 2022
The 3rd Primary wave begins. A more defined pull back for the 2nd Minor wave is expected.
10th March 2022
The unlikely becomes the reality via the spike below 293 and it is now confirmed that Primary wave  is looking to turn.
4th March 2022
A new daily low flags the divergence. The indicators point to the probability of a turning point at hand. Below 293 cancels this assessment.
23rd Feb 2022
This view has Intermediate wave (4) on a close approach towards (1). The RSI is in range limit oversold territory. However, in the unlikely event that (1) is breached then the previous count resumes and Primary wave  is active.
So the closer view served only to deceive. The retro workout appears obtuse but move along we must. Whilst the correction is so far at the midpoint between (3) and (4) it needs to be at least 20% of  and thereby closer to (4).
14th January 2022
A closer look exposes the probability of further development before the commence of correction. Note that 4 may not enter 1. Alternation between 2 and 4 will not surprise.
13th January 2022
Primary waves have a broad range, 15 months for the 1st is typical. Here we see that the 1st Primary wave has completed. The expected range for the completion of the correction is indicated.
6th January 2022
The RSI suggests a top for Primary wave . The alternate view is Intermediate (3). Wave  is typically expected to be of similar price action to wave , which means it could already be there, except for a non-confirming RSI which ought to be much lower. The expectation of alternation points to a sharp and/or complex pattern for wave .
The negative sentiment chose to persist and tight stops did the rest, obliterating the suggested divergence. The end of the turkey trot and arrival of the new month bodes well for the upturn, which has the indicated 1st target adjustment for the completion of the 1st primary wave. I am holding and watching for a breakout and test to add.
This re-ordered review indicates that negative sentiment has pushed the daily RSI to the oversold zone where support and a positive divergence is presently noticeable. A prospective location to commence accumulation.
This daily chart of SNH describes the progress of the long awaited recovery. However, the possibility of a bull trap with the one-year, equal-legs ABC form is not well hidden and remains very real. If this is put aside then the recovery view has good bullish form with Intermediate degree 3rd wave extensions and currently negotiating a Primary degree 3rd wave transition to extension.