$JSEANH - AB InBev: Is The Complex Correction Over?
ANH can be used a case study for the practicality of the Elliott Wave principle.
The recover from the March 2020 low at R572,67 to the peak at R1111,64 unfolded as a Leading Diagonal labeled 1 to 5 for a higher degree wave (1).
The share price has since consolidated for almost two years but could the consolidation be over?
Complex corrections in the EWP, (WXY or WXYXZ) consist of a combination of the basic zig zag, flat and triangle patterns.
In the case of ANH, W is a regular flat, X is an elongated flat and Y is a triangle.
If this count is correct and the correction is over, price should hold above R804,72 which is the invalidation level.
The recover from the March 2020 low at R572,67 to the peak at R1111,64 unfolded as a Leading Diagonal labeled 1 to 5 for a higher degree wave (1).
The share price has since consolidated for almost two years but could the consolidation be over?
Complex corrections in the EWP, (WXY or WXYXZ) consist of a combination of the basic zig zag, flat and triangle patterns.
In the case of ANH, W is a regular flat, X is an elongated flat and Y is a triangle.
If this count is correct and the correction is over, price should hold above R804,72 which is the invalidation level.
