ElliotWaveTrades
Long

PAHC: One's Meat Or Poison ?

NASDAQ:PAHC   PHIBRO ANIMAL HEALTH CORP
PAHC has been consolidating some of its gains since its near term low formed in Apr 2017.

Prices appears to be forming a 3 wave A-B-C correction which might have already been completed or sub-divide a bit down further before resuming its uptrend.

Average turnover has been decreasing steadily since Minuette Wave (iv) started.
Prices have found support around the 50% fibonacci retracement .
If Wave (iv) is not completed, it should do so very soon without retracing downwards much further.

If prices makes it way down further towards 38.2% fib retracement and finding support, I am not ruling out the prospect of sub-minuette ii forming instead.

However a strong break down of 38.2% fib retracement will bring more bearish implications, which I will then review and discuss.
Till then, the bias is still to the upside.

Nov 27
Comment: (Possible Entry Points)

Jan 21
Comment: Prices has reached its correcting upper channel line.
Volume is lacking somewhat.
We must see stronger average volume for a successful break up.
A break down towards Key Support could imply a more complex consolidation underway.
Jan 21
Comment:

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out