EFUL is most probably in wave C or 3
We are long term investor on this trade as the overall fundamentals are strong and the long term risk/reward ratio for this trade is very attractive.
Currently the price is in a lesser degree wave C which is almost finished or will finish soon starting an upside rally. If our wave count is correct then the lesser degree wave C is over and the bigger wave C or 3 has just started which will take prices toward 450 levels or even further up above 550 levels but this trade can take years to complete.
There's also a possibility that the lesser degree wave C is still in progress and will take prices further down towards 120 - 100 levels which will make this a more attractive buy trade.
Alternate wave count suggest of a wave B which will also take prices upward, however the target levels will change significantly i.e. 230 - 250 levels
We are already active in this trade and will accumulate more positions in EFUL if prices go below toward 120-100 levels
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
We are long term investor on this trade as the overall fundamentals are strong and the long term risk/reward ratio for this trade is very attractive.
Currently the price is in a lesser degree wave C which is almost finished or will finish soon starting an upside rally. If our wave count is correct then the lesser degree wave C is over and the bigger wave C or 3 has just started which will take prices toward 450 levels or even further up above 550 levels but this trade can take years to complete.
There's also a possibility that the lesser degree wave C is still in progress and will take prices further down towards 120 - 100 levels which will make this a more attractive buy trade.
Alternate wave count suggest of a wave B which will also take prices upward, however the target levels will change significantly i.e. 230 - 250 levels
We are already active in this trade and will accumulate more positions in EFUL if prices go below toward 120-100 levels
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
Trade active
As mentioned above, we are already active in this tradeEntry Price: 160
Target:
T1: 230 -250
T2: 450 - 550
Note
Next move up will most probably take prices towards 174 - 177 levels
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.
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.