A very obvious ELLIOT WAVE pattern can be observed on the stock !
Text book definition of a 5 wave impulse move. Stock looks to be in a 5th wave.
However, I believe that this wave's gonna be shorter one as this is driven by euphoria.
With all the sentiment about the company, short sellers are very far away and this gives support to the bulls case.
Keeping a conservative target of 2500. Entry at pullback.
Keep a tight stop.
NOTE- These are my personal view just to provide some insights. Keep your own analysis while trading.
Text book definition of a 5 wave impulse move. Stock looks to be in a 5th wave.
However, I believe that this wave's gonna be shorter one as this is driven by euphoria.
With all the sentiment about the company, short sellers are very far away and this gives support to the bulls case.
Keeping a conservative target of 2500. Entry at pullback.
Keep a tight stop.
NOTE- These are my personal view just to provide some insights. Keep your own analysis while trading.
Trade closed: stop reached:
Forgot to post the update on this. Closed with 2% stop hit.
