NAV - Technical analysis & a first try at Elliott wave analysis
I bought NAV by a mistake at 29xxx level. I hadn't even analyzed the wave structure. So this is my short and long term analysis of it.
I must admit that it is a challenging wave structure and I couldn't find good fib levels for it (maybe because I am just a noob :) ). I also tried to look at the Elliot Wave pattern for it.
It might just be that we are already moving towards a major 3rd-wave structure. That means 100%+ profit. I can at least pull out of NAV without any loss.
The other scenario is that we are moving toward a head-shoulder pattern. That means it will go even further down and test it's base support level. If that holds, then it's a definite buy and hold. Hopefully a 3rd wave will be coming.
I am just a noob at this, so this is all just speculation from my side. Please do share your ideas with me. Happy trading.
I must admit that it is a challenging wave structure and I couldn't find good fib levels for it (maybe because I am just a noob :) ). I also tried to look at the Elliot Wave pattern for it.
It might just be that we are already moving towards a major 3rd-wave structure. That means 100%+ profit. I can at least pull out of NAV without any loss.
The other scenario is that we are moving toward a head-shoulder pattern. That means it will go even further down and test it's base support level. If that holds, then it's a definite buy and hold. Hopefully a 3rd wave will be coming.
I am just a noob at this, so this is all just speculation from my side. Please do share your ideas with me. Happy trading.
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.
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.