Alrosa stock is traded on Moscow Exchange, its symbol is MOEX:ALRS, price is nominated in Russian Rubles. This stock has finished its minor downtrend which started in early 2017. What's going to happen next? See the following chart.
Finished the correction
Now it's pretty clear that this stock has just completed the correction pattern ("ZigZag") and now is about to resume the longer term trend. Still there is a room for one more minor drop to finally touch the trend channel and bounce off it.
Symmetry says +140% potential
As we you can see on the previous historical waves, there is a potential for about 140% rise in the next swing up. This swing should take 1-2 years to complete.
Currently Alrosa is traded at 86.5 rubles per share, so the final target is around 180 rubles per share. Stop loss is below the trend channel.
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