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SVENSKA CELLULOSASVENSKA CELLULOSASVENSKA CELLULOSA

SVENSKA CELLULOSA

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1SCAB trade ideas

SCA_B Swedish Cellulose Here we see the hyper bullish SCA_B at the end of a 5 wave cycle having out performed most Swedish stocks since the 2008 Financial Crisis. Price Spiked up beyond a 6.18 projected fib trend line based on the first impulse wave after which price has sold off very quickly. Exports have been given a steady and then huge boost by the devaluation of the Swedish Krona against the EUR and USD which in the final phases of a EURSEK bull run coincided with massive vertical price action. Read in conjunction with the Swedish Property market which is in decline since topping out in July 2017 this marks an interesting period for Swedish production and perhaps signals a wider based economic retraction which was fuelled by quantitive easing and a devaluation of the Swedish Krona. Drawn in is a potential ABC correction - however the timing needs to be assessed using fib time analysis. Regardless such a vertical price movement tends to retrace quickly as price has not established any resistance levels the first being the end of the intermediate wave 4 retracement. For educational purposes this represents an amazing shorting opportunity - with a short sell position placed on confirmation and a stop placed above the high. Bearish - Short!
OMXSTO:SCA_BShort
by J00Z1