Zealand Pharma is currently bouncing off the support line in a dobble bottom pathern, which indicates a soon to be increase of stock value. The Bollinger Bands With% shows raising bottons, which consolidates the earlier observation.
The reasoning for believing that this is the bottom is due to the ABC, ending C at exactly 1.272 extended fibonacci.
Price bunched shortly after.
What also confirms this theory is drawing 1-5 waves, on it.
By drawing the extension of 1-2 waves i see that .2 fibonacci ends at the exact same price at the C at 87.10
Shortterm target area for OMXC20 is around the 800 level. AB=CD harmonics, weekly closeline GAP from 09/02-15, weekly tail from 7/11-16 are all pointing at the same target area at around 800. Expecting a bounce afterwards.
On the weekly chart, after a long uptrend in 5 Waves a correction phase started.
It is unfolding as a deep move down affected by the negative psychology of investors due to the news in Estonia.
Looking at the chart I expect a reaction soon and then a last drop in order to end this down period.
Long term Momentum has reached extremely oversold levels.
During that...
The technical analysis matches with the fundamental perspectives, suggesting a new bullish time ahead after
two years of bearish trend. Immediately after rebounding from the 61.8 Fibo level (measurement taken from the big bullish move on a weekly trend) some news have suggested the interest of some Equity Funds of acquiring the danish company and, after that,...
I've tracked this stock for quite some time, as a friend of mine has it.
The correction was expected when the uptrend broke, but I'm unsure of the direction at this given point, so I'm trying myself out, so lets see if it's a hit or a miss.
There are two "ideas" .
I positive in the long run, but I do believe this has been going too fast, and the correction is...
Key level of support in trend-channel as well as previously known resistance that could act as support now. Important that it confirms reversal from downtrend before going in.
Pandora stock taking a beating for deciding to slow down on it's earnings projection. Doesn't really phase me, bought this discount, holding to hopefully 695. stop in the low 300. good luck
