looks like more upside awaits on share price in 2020-2021
Expecting wave (5) will carry the share price to new all time high
For the first time since the stock price peaked at 13.26 in May 2017, the weekly price bar penetrated the red multi month downtrend line. If this is a valid breakout, further consolidations in the lower time frame would likely to signal a buying opportunity to catch the potential wave (5) rally. Note: divergence between share price and technical indicators
Preferred count in color, alternative count in grey.
A solid daily close above the B-D line (trendline breakout) with increased trading volume would send a very bullish signal.
expecting wave (5) will push the share price to all time high
Expecting the 5th wave will push share price to all time high. Note wave (3) equals approx. 1.618 times the length of wave (1) wave (4) retraced approx. 50% of wave (3)
It looks like a triangle correction has been forming since stock price peaked at 3.90 in July this year.
the recent decline seems corrective, maybe a bullish triangle correction is in the making
preferred count in blue & red, alternative count in grey
another break below the wave A low at 50.51 will invalid the above wave count
Expecting wave (5) would carry the share price to a new high
could be a buying opportunity if some sort of lower degree corrections appears near the upper trend channel (or ideally, after trend channel break out) note wave 2 or B could be more complex
Looks like a double zigzag (W)-(X)-(Y) correction could be a possible resolution for Nikkie 225