REC technical analysis on Wave theory1)Completed Elliott wave (Total 08 waves. 5 Impluse & 3 corrective ) since 2012 to Nov 2018
2)In Bigger time frame Impluse wave have completed (05waves).
3)Now present in corrective mode. "A" corrective wave has completed & B wave seems has been completed but it may touched to be 61.8 of wave A. now Wave C is peding towards downword. it may 61.8%,100%.1.618% of wave B.
4)REC was consolidated from 2002 to 2012 than its has a big breakout and reched form 5 rs to 58 rs.
5)Lower side target to be 30
Note: this is only educationla purpose
if cnh goes up beyond tfs 20 long on hull conferm... in that case the tether line will be the trailing gain
Tesla Compression FunnelBuy at 226.5 with a stop loss at 220 and sell at 220 with a stop loss at 226.5
Expecting a massive movement in Tesla.
Long if it breaks the high of the previous day with a stop loss at the previous day's low.
Short if it breaks the low of the previous day with a stop loss at the previous day's high.
In case of gap up above the previous day's high or gap down below the previous day's low, please avoid buying it or selling it respectively. Follow the ending of the candle formed in first 5 minutes and follow ORB strategy.