#NTOG #NostraTerra - Bullish on the weekly, Wave 5 ahoy

NOSTRA TERRA OIL & GAS COMPANY PLC ORD GBP0.001LSE

Description

⋅ Apr 23, 2018 1:12 AM

This came in as a special request (I'm not a holder - yet anyway). And after a big move last week, I agree this is worth a look.

The weekly chart has lots of bullish clues in it:

Could be entering a 5th Elliott Wave
200 week moving average halted the move of W3 - this is a key line to break, but possibly strong resistance too
Indicators looking positive. In particular note that the RSI has stayed above 50 during W4.

Potentially a good one to hold for some time longer if you already do.

Comment

⋅ Apr 23, 2018 5:27 AM

Just to add a note - yes wave 4 and 1 overlap; however on AIM this is sometimes ok if you're only shaving off part of W1's spike.

Comments

withoutwings

⋅ Apr 23, 2018 6:57 AM

Another note, to follow Elliott Wave guidelines, the min target is more likely. However it's not impossible that W5 becomes larger than W1, or even that W5 is the main impulse wave and actually ends up being the largest. But this said to be rare outside of commodities.

withoutwings

⋅ Apr 23, 2018 6:58 AM

Oops, added that as a comment instead - oh well!