As per Elliot's wave pattern, the IT sector is on the 5th wave run.
The sector had rallied 80% in the last year without any significant correction.
With the major IT companies announcing their quarterly results next week I'm expecting profit booking in stocks that had rallied significantly.
Be cautious before investing in this sector now.
The sector had rallied 80% in the last year without any significant correction.
With the major IT companies announcing their quarterly results next week I'm expecting profit booking in stocks that had rallied significantly.
Be cautious before investing in this sector now.
Trade active:
Major profit booking and the fall as expected!