BCG READY TO SHOOT!!!
Price has completed Wave 1 and Wave 2 also,
Wave 2 has retraced Wave 1 by less than 100 % which suffices the retracement rule of Wave 2 as per the Elliott Wave Theory,
As per Elliott Wave Theory Wave 3 extends by 161.80% of Wave 1 accordingly the Upward projection for this stock is 206.40 measured as per Fibo Extension.
Currently Price has formed a first Monthly Fresh Demand and has given a closing above the EMA which also confirms gain in Buying Power.
We have the Risk defined as per the Monthly Demand and Target derived as per the Wave 3 Fib Extension.
Bcgtrendanalysis
Brightcom Group Trend AnalysisAn undervalued high growth small cap company with strong fundamentals available at price below its book value.
Price is nearing key support level around 22.65 level
Good to accumulate around 20 - 25 levels for the following targets:
Medium term swing target @ 65 (185% ROI)
Long term swing target @ 85 (275% ROI)
Long term positional target @ 102 (350% ROI)
Expecting another big fall after reaching the final target.
Will keep you updated as chart unfolds.
Kindly do your own due diligence before taking any action.
Peace!!
