Banca Generali (BGN - Italy) is in ABC sequence down after Impulse cycle over in weekly time frame. This is the part of bigger WXY cycle. Currently price is in B wave up as wxy complex wave, where y wave is in progress as abc and b was triangle. Wave C should be fast as the result of triangle, which will complete B wave of major Y wave down.
Short su BGN, Testa e spalle ribassista, debole breakout della linea di trend, nel caso tra MA 50 e MA 200 inizi una divergenza (per ora solo accennata): posizione short, prima di allora cautela.
BGN is within a 5 waves down period that started in Jan 2018.
Now the stock is in its 4th wave, a reaction which has either an a-b-c aspect or it will present an a-b-c-d-e aspect.
One way or another, the odds are that once this move ends, the last wave down (5) will follow to lea BGN below 20 euros.
Therefore we have here an opportunity for Short.
