TCS Bank: Uptrend is About to Continue This Year

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Tinkoff Credit Systems Bank ( TCS Bank) is a Russian bank traded on London Stock Exchange. Instrument symbol is LSIN:TCS. 2 years ago this asset broke its downtrend and the price keeps rising since then. Right now it's pretty clear that there is a motive Elliott Wave structure being developed, and the overall trend is pretty strong. Look at the chart.

According to the EW symmetry rules, the TCS price is expected to touch its previous all-time high value, which is at 19.76. The last 5th wave whcih is likely to begin right now, shows exactly this target.

After the price reaches the target, a longer term correction is expected. But there is another possible scenario: if it breaks ATH and holds above it, then we may see an extension of the 5th wave with possible targets way higher than 19-20.

Please be careful right now. Despite the fact that the uptrend looks pretty strong, I'm not 100% sure that the 5th wave has already begun now. There is still a possibility of retest of 8-9 level. Also, please note that there is a 0.618 Fibonacci resistance at 12.4 which is not broken yet (the price is currenctly below it).

Once the price jumps above 12.4 and holds there, there will be a good trade opportunity: buy at 13 and sell at 19. Don't forget to place proper stops and you will be fine.
Sep 27
Comment: Spot on!
I think the top is near, unless it makes new all-time high and holds above
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