6 Aug 2020 ● 05:15 AM
In Value Wave Investment I try to discuss long term wave counts of stocks where the Structure appears bullish on quarterly and monthly charts. But I also discuss the short term structure as it develops in context of the long term. But the objective is not short term, that is important to understand. So I have been covering Kopran for a long time and after the bear market ended in March have marked it as the start of an impulsive rally. The near term chart below shows a rising channel and that we are in wave 3 of 3 that is extending. Extending means that the wave marking is i-ii-i-ii-i-ii and so that means we cannot complete 5 waves till we mark iii-iv-iii-iv-iii-iv and then wave v and then we are done. So many more up down moves to to. The upper end of the channel is at 70.
The Long term chart shows wave 1 circle in blue as a leading diagonal. It is rare to see such a long term leading diagonal but I have two charts that show this published today. The other one Goodrick is discussed seperately. So After a 78.6% retracement in wave 2 we are now in long term wave 3. If 3=1 then we go to 254 . Third waves however are more often than not extended in long term charts. Sof if it extends to 161.8% or is 3 times the size of wave 1 gies us 400 and 736 as the optimistic scenarios.