PFC Elliot wave analysis, Long Term perspective it is in uptrend
Updated
PFC seems to be in (iii) wave of 3rd wave and making new LTH every other day so with wave rules if we consider 1.618 retracement from wave 1 so it can go up to 660 followed by minor correction wave 4, the final wave 5 target can be up to 725 applying rounding bottom formation completed at 560 level.
Though it is difficult to catch the top until it is formed.
Overall tone looks bullish and one can keep trailing stop loss to previous swing low to ride it the most.
*** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
Though it is difficult to catch the top until it is formed.
Overall tone looks bullish and one can keep trailing stop loss to previous swing low to ride it the most.
*** Please note this is not a trade advice but just chart analysis study shared for educational purpose, one must do his/her own analysis before taking any trade.
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If 527 is not broken and stocks moves up from here then it can complete the wave 3 in green.Note
A monthly close above 559 was needed, but still looking good on chart, if gives weekly close above 560 then it can complete kind of C&H pattern to open a target of 160 points that is 720 but as monthly close is not in support so trailing stop loss is important for any change in direction.Note
The high of wave 3 was not as per predictions, still it was a valid wave so now wave 4 is over with low made on August 06 and we are in wave 5, within wave 5 we are in wave 3.
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