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TCID Technical Analysis - Expect Reversal Based on elliottwave theory, I am confident enough to say that the bearish trend is almost over. A zig-zag correction pattern is formed from a-b-c label, the price also hover around strong support range. I think the accumulation phase is happening now.
RSI indicating bullish divergence. Let's see if price can hold above MA 50 and MA 100 in coming weeks.
Cheers happy investing !
BRPT : Buy Opportunity Technical Analysis using Elliot Wave Principle
If the count is correct, the wave (2) must have completed, then I expect more upside in wave (3). Wave (2) is a simple zigzag correction of A-B-C.
There are 3 entry options with different risk and reward ratio. Use the entry options based on your own personal risk preference. Stop loss at bottom of wave (2)
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SSIA idx stock :Example of Complex Correction Wave Here is the example of complex wave calculation based on elliott wave principle.
Overall complex correction wave consists of 5 combined wave (w)-(x)-(y)-(x)-(z).
These complex correction played out for very long period time thus can be very confusing. (w) wave is a zigzag of a-b-c, followed by triangle a-b-c-d-e (x), another zigzag a-b-c (y), followed by flat a-b-c (x) and last, completed with zigzag a-b-c (z).
This educational analysis provided also with example entry strategy, my entry strategy placed on top of last wave 4, why? Well, it gives slight confirmation that the (z) wave of zigzag is completed. The stop loss placed on the very bottom of (z), which means the invalidation zone. Apparently, this strategy only compatible for a long term investing.
This educational analysis is not a financial advice, you should do your own research and always make sure to criticize before consummation.
And last, because the asset is stock, always compare with the fundamental condition of the company.
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