ENGROH (184.50) has completed the 61.8% Fibonacci retracement of its 134.36 to 287.88 rally at 179.76, marking a decline of over 35% from its January 2025 high of 287.88. Based on my wave count, the correction appears to be complete, with a potential low established at 177.05.
A sustained move above 188.50 would confirm emerging strength, initially targeting 194.60. Such a move would reinforce the bullish reversal structure, setting the stage for a minimum upside towards 206.30, with the potential to extend to 226.
Traders should closely monitor price action above 188.50, particularly on expanding volume, as this would provide a strong buy signal for further upside.
A sustained move above 188.50 would confirm emerging strength, initially targeting 194.60. Such a move would reinforce the bullish reversal structure, setting the stage for a minimum upside towards 206.30, with the potential to extend to 226.
Traders should closely monitor price action above 188.50, particularly on expanding volume, as this would provide a strong buy signal for further upside.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.