EFUL PROBABLY IN WAVE ' C ' OR ' 3 ' - LONGEFUL is most probably in wave C or 3
We are long term investor on this trade as the overall fundamentals are strong and the long term risk/reward ratio for this trade is very attractive.
Currently the price is in a lesser degree wave C which is almost finished or will finish soon starting an upside rally. If our wave count is correct then the lesser degree wave C is over and the bigger wave C or 3 has just started which will take prices toward 450 levels or even further up above 550 levels but this trade can take years to complete.
There's also a possibility that the lesser degree wave C is still in progress and will take prices further down towards 120 - 100 levels which will make this a more attractive buy trade.
Alternate wave count suggest of a wave B which will also take prices upward, however the target levels will change significantly i.e. 230 - 250 levels
We are already active in this trade and will accumulate more positions in EFUL if prices go below toward 120-100 levels
Let see how this plays, Good Luck!
Disclaimer: The information presented in this wave analysis is intended solely for educational and informational purposes. It does not constitute financial or trading advice, nor should it be interpreted as a recommendation to buy or sell any securities.
