SHORT / MEDIUM TERM - KPJ POTENTIAL ELLIOTT WAVE 5

KPJ a profitable company, has started wave 5 leg after a sharp correction. Potential price might attempt R1. If price break above R1, there is potential to reach R2 with sustained momentum on wave 5 with an optimistic Fibonacci projection 1.618. use trailing stoploss based on personal preference to protect your profits.

If price failed to break R1, possible it will test S1 and potentially trading within ascending triangle, a bullish continuation pattern.

If price break S1, price might be trading sideways.

Note

KPJ almost reached T1 with occasional break of S1. traders can take profit half position and leave balance for attempt T1 and break. if failed, consider to close position, and try other stocks

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