Anta Sports recently continued to rise after an impulsive downward spike narrowly missed the magenta Target Zone between HK$58.95 and HK$33.60. Thus, it is quite possible that this downward spike has already completed the low of the green wave (2) and that the stock is now marching higher. However, we are not convinced that this is the case, so we believe that the stock will soon pull back, drop below the support level of HK$67.85, and then run into our magenta Target Zone. Once this has been explored, we expect the wave (1) in magenta to lead to strong rallies above the resistance at HK$125.30.
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📊 Free daily market insights combining macro + Elliott Wave analysis
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
🚀 Spot trends early with momentum, sentiment & price structure
🌐 Join thousands trading smarter - full free analyses at dailymarketupdate.com
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.