Drax - Bearish DRAX broken out of a bullish triangle this week. Bearish in my book. Expect retest at around 548.
PS: This could also be a false breakout.
This is not a recommendation to trade. Do your own research and make your own decisions.
3.55USD
698.84 MUSD
9.75 BUSD
About Drax Group Plc
Sector
Industry
CEO
Dwight Daniel Willard Gardiner
Website
Headquarters
Selby
Employees (FY)
3.55 K
Founded
2005
FIGI
BBG001P74FJ6
Drax Group Plc engages in owning and operating coal-fired power station. It operates through the following segments: Generation, Biomass Supply, and Retail. The Generation segment involves in the generation of electricity at Drax Power Station. The Biomass Supply segment offers production of compressed wood pellets at processing facilities. The Retail segment offers supply of power to business customers and wood pellets. The company was founded on September 13, 2005 and is headquartered in Selby, the United Kingdom.
BreakoutClear uptrend.
Breakout from descending channel.
On high volume.
With volatility expansion preceeded by contraction.
Looks good on daily and weekly timeframe.
I see Fractals, what do they mean?I have no knowledge of fractals, I'm hoping @Meszaros or some other genius can work it out?
Drax PLC - Correction finished and upside from here?From my analysis Drax PLC may have a little further to retrace for wave 2 but it may be about to embark on some serious upside. According to this Elliott Wave count it may have completed a correction that started in 2006 and may now be resuming its upwards trend. For the more pessimistic, my complet
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