Long
INLAND HOMES PLC INL WAVE 5
Hello Traders,
Looking at the chart for Inland Homes PLC we can see a nice set of Elliot waves and price looks to be somewhere in the middle of a wave 5. A rising wedge has formed with bearish divergence on the weekly RSI so we could see a small pullback here into the green box before a move up. I have used the fib extension tool from wave 1 to give a set of possible targets for wave 5. I'm not entirely convinced that overhead trend line has much weight to it but I have put it in anyway.
Looking at the chart for Inland Homes PLC we can see a nice set of Elliot waves and price looks to be somewhere in the middle of a wave 5. A rising wedge has formed with bearish divergence on the weekly RSI so we could see a small pullback here into the green box before a move up. I have used the fib extension tool from wave 1 to give a set of possible targets for wave 5. I'm not entirely convinced that overhead trend line has much weight to it but I have put it in anyway.
Note
Here is a better view of that rising wedge with bearish divergence on the weekly. 
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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.