SOLUTN - PRICE WILL RETRACE BUT TREND IS NOT OVER
Solutn is in an uptrend stock.
Today the price spikes up and hit high of RM1.4. This could mark the end of wave (3) of Elliott wave count and going into wave (4) retracement and consolidation. It is predicted the price will retrace to the level of RM1.2 ~ RM1.25 range and consolidate before the trend will continue to wave (5) to complete wave (iii).
Happy trading to all traders!
Today the price spikes up and hit high of RM1.4. This could mark the end of wave (3) of Elliott wave count and going into wave (4) retracement and consolidation. It is predicted the price will retrace to the level of RM1.2 ~ RM1.25 range and consolidate before the trend will continue to wave (5) to complete wave (iii).
Happy trading to all traders!
Comment:
Our earlier prediction on the movements of Solution is pretty close to the actual movements. When price spiked up to around RM1.4, our prediction was it will pull back to around 1.2 - 1.25 level before continue its uptrend movement. Wave (iii) is now officially done. The price is moving to wave (iv). So today price actions are part of wave (iv) correction movements. Therefore, the trend is not over yet on big picture. This time the correction is deeper and more complex. The price might hit the low of around 1.26, and combine with some sideway correction. Once correction is over, it will make its final uptrend movements to wave (5). Then the trend is end that will follow with bigger correction. Stay aside at this moment. Happy trading.