tomj2417
Long

Drax PLC - Correction finished and upside from here?

LSE:DRX   DRAX GROUP PLC ORD 11 16/29P
62 0 3
From my analysis Drax PLC             may have a little further to retrace for wave 2 but it may be about to embark on some serious upside. According to this Elliott Wave count it may have completed a correction that started in 2006 and may now be resuming its upwards trend. For the more pessimistic, my completed C wave may not be deep enough and might only be the end of its wave 3 and the upswing going on now may only be the 4th wave correction before further downside. I, however, am going with the more optimistic view although I will be keeping an eye out for the alternative count.
Comment: Didn't get this one quite right the first time but it seems to be following the plan quite nicely now. Reckon there might be some more upside here.

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