$JSEYRK - York Timber: A Bullish Sequence Unfolding?
York Timber is still a long way away from its lofty heights of years gone by.
What is most encouraging though is that the Covid-19 exacerbated sell-off in March 2020 did not lead to a new low relative to the February 2019 low of 70 zac.
The rally from 75 zac to 420 zac unfolded in five waves labelled (i) to (v) which is a bullish sign that more upside can be expected.
The current correction to 211 zac has a lot of overlapping waves as expected with corrections and this gives more confirmation that the bull run should resume.
It is impossible to forecast that the correction is complete at 211 zac.
Trade recommendation if price breaks above 350 zac without breaking below 211 zac from current levels.
buy @ 350 zac
stop-loss @ 210 zac
take-profit 1 @ 420 zac
What is most encouraging though is that the Covid-19 exacerbated sell-off in March 2020 did not lead to a new low relative to the February 2019 low of 70 zac.
The rally from 75 zac to 420 zac unfolded in five waves labelled (i) to (v) which is a bullish sign that more upside can be expected.
The current correction to 211 zac has a lot of overlapping waves as expected with corrections and this gives more confirmation that the bull run should resume.
It is impossible to forecast that the correction is complete at 211 zac.
Trade recommendation if price breaks above 350 zac without breaking below 211 zac from current levels.
buy @ 350 zac
stop-loss @ 210 zac
take-profit 1 @ 420 zac