#NUOG #NuOilAndGas - Correction part C still in progress
Elliott Wave analysis of NUOG on the daily chart tells me that it is still in a corrective phase, but should be nearing the end of that soon. Interestingly note that W5 was the extension in the bull phase, not W3 which is more common.
I believe that Wave C will finish around the same level that Wave 4 did on the way up - this is supported by EW theory. And further supported by the 78.6% Fib line, which is a common retrace point on AIM.
Expect this to change back to a new W1 after that point, which will be a typically short one - perhaps 1.26p as a target?
I believe that Wave C will finish around the same level that Wave 4 did on the way up - this is supported by EW theory. And further supported by the 78.6% Fib line, which is a common retrace point on AIM.
Expect this to change back to a new W1 after that point, which will be a typically short one - perhaps 1.26p as a target?
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.