EFERT PROBABLY IN WAVE '' 3 '' OR " C " - LONGEFERT is most probably in wave 3 or C of a higher degree wave 4 or A, if our wave count is correct then wave 3 or C is almost ending and prices should take support from 165-160 range level.
Alternately prices can go toward our main buy zone directly i.e. 160-140 range in which the prices might reach 145-140 level easily but our preferred setup suggests that prices will take support around 165-160 range bouncing of the yellow trendline.
We will take a small position at 165-160 level and if prices goes further down we will add more at 145-140 level, based upon our little knowledge we find EFERT fundamentally strong and reasonable at prices around 160-140 but of course cheaper is always better.
If our wave count is correct then we can make around 12% to 21% on this trade.
Trade setup:
Entry price: 165-160
Stop loss: we will update stop loss once prices start to rise from our buy zone
Targets:
T1: 185-195
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
