I am not sure if the wave pattern will complete itself as there is weaker retail sales in clothing and food (according to US Census Bureau). I am convinced that the company's fundamentals look good. The only dilemma in choosing long position is increased cotton price as well as lower retail sales. If anyone has anything to add, please do so (in the comments)!...
BTE.TO was supposed to outperform as long as the price of oil stays above 66$ since December. As you can see, its up by 89%. The could be a potential gap up and shorting opportunity (intraday). If anyone has any suggestions or corrections. Comments are much appreciated as I am always willing to learn.
1D chart is moving in a channel. Elliot Wave formation with the initiation of wave 5 in this coming month.
There is a confusion on the length of wave 1 and wave 3. Overall financials of the company looks strong. If the earnings are as forecasted, I am assuming the trend to continue.
I am open to suggestions and corrections.
