A price action above 10700 supports a bullish trend direction.
Increase the long exposure for a break above 11200.
Upside target is set at 11700.
Stop-loss is set at 10300.
When a share is said to be in "wave 5" of the Elliott Wave Analysis, it means that it has already completed four waves in the direction of the main trend and is currently in the fifth and final wave of the sequence.
Wave 5 is typically characterized by strong momentum and bullish sentiment, as investors who missed out on earlier buying opportunities rush to join the trend. However, this also means that the share may be reaching the end of its upward trend, and a corrective wave may follow soon.
Increase the long exposure for a break above 11200.
Upside target is set at 11700.
Stop-loss is set at 10300.
When a share is said to be in "wave 5" of the Elliott Wave Analysis, it means that it has already completed four waves in the direction of the main trend and is currently in the fifth and final wave of the sequence.
Wave 5 is typically characterized by strong momentum and bullish sentiment, as investors who missed out on earlier buying opportunities rush to join the trend. However, this also means that the share may be reaching the end of its upward trend, and a corrective wave may follow soon.