The Elliott Wave analysis shows that the stock has completed waves (i), (ii), (iii), and (iv), as represented by blue numbers on the daily chart.
Wave (iv), also known as the corrective wave, followed an a-b-c pattern, as seen in red. It has retraced approximately 61.8% of Wave 3.
Wave (v) commenced following the end of wave (iv).
Wave (v) is projected to contain about five subdivisions, which are highlighted in red.
Wave i of wave (v) has been completed, and wave ii is currently in progress.
Wave ii is taking support of channel.
It is a buying opportunity during the downturn (dip).
Wave levels are shown on the chart.
Level of Invalidation
Wave (i) has been identified as the invalidation level, which is 92.35. Because According to the wave rules, Wave (iv) cannot cross the pricing territory of Wave (i). If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears.
I am not a registered Sebi analyst. My research is strictly for scholarly interests.
Before you trade or invest, please consult with your financial advisor. I am not responsible for your earnings or losses.
Regards, VJ.
Wave (iv), also known as the corrective wave, followed an a-b-c pattern, as seen in red. It has retraced approximately 61.8% of Wave 3.
Wave (v) commenced following the end of wave (iv).
Wave (v) is projected to contain about five subdivisions, which are highlighted in red.
Wave i of wave (v) has been completed, and wave ii is currently in progress.
Wave ii is taking support of channel.
It is a buying opportunity during the downturn (dip).
Wave levels are shown on the chart.
Level of Invalidation
Wave (i) has been identified as the invalidation level, which is 92.35. Because According to the wave rules, Wave (iv) cannot cross the pricing territory of Wave (i). If the price falls below this level, it may signal that the projected Elliott Wave pattern is not what it appears.
I am not a registered Sebi analyst. My research is strictly for scholarly interests.
Before you trade or invest, please consult with your financial advisor. I am not responsible for your earnings or losses.
Regards, VJ.