FibMarketWatch

ECOPETROL - BUY

Long
NYSE:EC   Ecopetrol S.A
ECOPETROL NYSE:EC is currently undergoing an extended Cycle Wave 1.

The Chart currently is showing a BULL FLAG and is looking to break out.

Near-term (3-6 Month Target): $30


-AB

Comment:
EC is in the last leg of the 2nd Wave Correction.

It has formed a MINI 5 wave sequence.

STOP @ $20.33
Fibonacci Technical Analysis - Wave & Fibonacci

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