An Exchange at a discount!!
MCX CMP 5875
Elliott- Thats an expanded flat corrective pattern. The B leg gives a false breakout and then breaks down and closes way below the end of A wave. Here C is 1.618 of A.
Fibs- That it has halted at 50% from a higher swing is an indication that the trend is strong and intact.
RSI - the oscillator is above its bull zone. Hence the trend is intact.
MA- Its also at MA support.
Conclusion - the stock is down 16% from the highs and is a good buy for next six months to a year.
Elliott- Thats an expanded flat corrective pattern. The B leg gives a false breakout and then breaks down and closes way below the end of A wave. Here C is 1.618 of A.
Fibs- That it has halted at 50% from a higher swing is an indication that the trend is strong and intact.
RSI - the oscillator is above its bull zone. Hence the trend is intact.
MA- Its also at MA support.
Conclusion - the stock is down 16% from the highs and is a good buy for next six months to a year.
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