See link for previous analysis.
Afrimat used to be a one-way steam train but the stock has lost its momentum since peaking at an all time high in April of 2022.
A 43% bear market saw the stock decline from 7647 to 4366 cps.
What we have seen from the 4366 low is a sequence of higher highs and higher lows with strong overlaps in the price swings.
From an Elliott Wave perspective, this is consistent with a leading diagonal.
This leading diagonal is in its fifth and final wave so I am anticipating a three wave pullback before looking to join the bulls.
For this outlook to remain valid, the correction must terminate above 4366.
Afrimat used to be a one-way steam train but the stock has lost its momentum since peaking at an all time high in April of 2022.
A 43% bear market saw the stock decline from 7647 to 4366 cps.
What we have seen from the 4366 low is a sequence of higher highs and higher lows with strong overlaps in the price swings.
From an Elliott Wave perspective, this is consistent with a leading diagonal.
This leading diagonal is in its fifth and final wave so I am anticipating a three wave pullback before looking to join the bulls.
For this outlook to remain valid, the correction must terminate above 4366.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penerbitan berkaitan
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.