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Patel Ingegrated Logistics

26 May 202001:01 PM

Value Wave Investment - Long Term discussion on Elliott Waves

This is an interesting chart of an unusual stock, Patel Integrated Logistics. Low priced and then on volume so watch out. Prices have moved back-and-forth inside a parallel channel and recently touched the lower end of the channel near ₹ 9. The last part of the correction in wave 2 looks like an ending pattern, though marked as W-X-Y-X-Z. A breakout from this pattern would be above 20.25. The question to ask is whether you can go back to the top end of the channel near 194, or even better will things change sufficiently enough for a breakout from the channel to a higher range longer term. Both the previous rallies since 2003 appear impulsive and have been marked as 1-2-1-2

patel 260520

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