$JSEANH - AB InBev: Looking Very Bullish With Strong Momentum

See link below for previous analysis.

ANH has traded as previously forecasted and looks set to continue its bull run.

I am looking at the current advance as being part of an extending wave 3.

Wave 2 was a zig zag pattern with a very small wave ((c)) which is typical of a market that wants to rally and the bulls quicky take initiative.

I am seeing a similar picture as the correction from 121760 to 113848 was very small, pulling back only 6.5% in price and making only a 38,2% Fibonacci retracement.

I am raising the invalidation level to 113848 as a break below this level would mean wave ((ii)) is still unfolding.

As per this outlook, the stock is now in wave (iii) of ((iii)) which can be a very powerful move and volume seems to be supportive of this view.


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