Highly speculative analysis of a difficult pattern. Expecting another drop to a new low to complete this segment of the pattern, as illustrated.
If my analysis is correct then there is significant value as price rises in the projected pattern.
Long term Weekly EW Analysis of GKP.
- On a basic fundamental level GKP, as of today, has more cash than the value of their Market Cap and Debt combined (+£35M more). The last dividend was 16p. Whether they can maintain this going forward is another question.
- In my EW analysis, the price target for the next and final drop in this phase is 30p, but anywhere...
Elliott Wave Analysis of Meggitt Plc. I view this correction as a significant correction which should create a significant 'generational' bottom. Long and medium term holders should benefit significantly from the projected growth over the coming years.
The FTSE100 seems to have one of the better structures during this correction. Expecting a move down in five waves in to the green box as a buying opportunity for a significant move up, at least as part of a larger corrective move to the upside.
I will update this chart as things progress.
Like most other global equity indices, I'm looking for a 4th wave in the current cycle to complete before a drop lower in to the green box, with possible extensions to the yellow box.
This low in to the green box below will either end the down trend since the highs or will prove to be the first part of a three part move to even lower prices.
Looking for w4 of a 5 wave Elliott Wave cycle to complete somewhere in the pink box.
Otherwise, if this was a W-X-Y sequence, then there is a potential for this move up to have completed already at the 38.2% retracement level. With further downside to a new low imminent.