TradingView
TomP
May 21, 2015 4:26 PM

Break of Flag to upside in GKN Long

Description

Price has broken flag after failing to reach lower tramline-a potential indication of strength.

The stock could also be starting wave 3 of Elliot wave theory which are long and strong in character.

Stop loss around 347 and targeting 440 initially which is about equal to the first wave 2 move.

I would say the aerospace industry will remain pretty strong given the current conditions of increasing passenger rates and demand for aerospace parts so a long position is fitting.
More