ELK trade ideas
ELKEM ASAThis is a very simple pattern that happens now, when the price is in the channel and RSI around 30. I expect a profitable long postion. (Disclaimer: Plesae do your analysis and do not follow me, I am not a profesional trader.)
Buying Elkem StocksElkem Stocks in a bullish move and had in the last weeks a little sellof, so it can now be bought on the lower trend channel, with a good change risk profile.
Elkem producing wafers, which are essential "raw material" for the semiconductor industry.
ELKShort on ELK
possible support 28 and if it could not hold, next target for covering will be support 25.
Third wave forming on ELK?Seems like a perfect bounce of the 0.618 fib level, which also coincides with the 50-day SMA. I'm new to EW theory but this seems like a clean third wave to me.
ELKEM looks attractive @20.xx Strong support @21 and @20. Scaling in between probably the best idea.
