LINC - BULLISH BREAKOUT - 2X CANDIDATE
Hi Folks,
There has been high accumulation in consumption sector. Recent surge of volume with decent delivery can be seen in linc in recent days. Overall, longer bullish trend on weekly charts is intect. After a decent time and price correction, upmove looks like prevailing again.
Elliott Wave Analysis - Long Term
1. On longer time frame (Weekly) - Left chart - Larger 4 wave stands completed.
2. Fifth wave has commenced after confirmation of brerakout with surge in volumes.
3. Targets are marked with fib projection and potential it can 2X from here.
Elliott Wave Analysis - Short Term
1. On Daily timeframe(right chart), we can see a start of new impulse.
2. First wave itself is a Leading diagonal and marked in channel which shows bullishness of this stock.
3. A clean abc structure is visible in 2 wave.
4. Breakout of 3 wave is evident, a bullish candle(Marubozu) can be seen with volume support taking out b of earlier abc structure.
Not a trade recommendation, please do your own due diligence.
There has been high accumulation in consumption sector. Recent surge of volume with decent delivery can be seen in linc in recent days. Overall, longer bullish trend on weekly charts is intect. After a decent time and price correction, upmove looks like prevailing again.
Elliott Wave Analysis - Long Term
1. On longer time frame (Weekly) - Left chart - Larger 4 wave stands completed.
2. Fifth wave has commenced after confirmation of brerakout with surge in volumes.
3. Targets are marked with fib projection and potential it can 2X from here.
Elliott Wave Analysis - Short Term
1. On Daily timeframe(right chart), we can see a start of new impulse.
2. First wave itself is a Leading diagonal and marked in channel which shows bullishness of this stock.
3. A clean abc structure is visible in 2 wave.
4. Breakout of 3 wave is evident, a bullish candle(Marubozu) can be seen with volume support taking out b of earlier abc structure.
Not a trade recommendation, please do your own due diligence.
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