Power Grid has been following Elliot Wave counts perfectly.
Let’s unleash the Elliot wave counts as Power Grid has been in a complex correction in the form of Wave III of (4). After making a top near 227 in August 2017 as shown in the charts below.
The 21-month correction in the stock probably has come to an end after broadly trading in the range from 225-175.
Thus from now stock could head north and is having a high probability of making all time highs which could yield 35-40% returns with a stop loss of 8-10%.
Therefore it makes the stock a good investment idea for medium term.
Though it is always important to use combination simple along with advanced techniques to get confirmation for trade setup. Hence, the power of simple patterns along with the application of [P] square Elliot Waves will provide the objectivity. As the combination of multiple tools and appropriate risk and money management strategies is key to successful trading.
Thus, there is a big STAR trading opportunity in short, medium and long term coming up for the stock keep you fingers crossed.
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