City Union Bank completed a Wave 4 on Weekly timeframe
City Union Bank has been in an uptrend since February 2009 and has recently completed Wave 4 in a triangle pattern. Now, it is poised to form Wave 5 in the coming weeks. A conservative approach to maximize gains from Wave 5 is to enter the market at the right moment, which is when the stock starts trading above Rs. 181, marking an entry over Wave D of the triangle.
This strategy aligns with the principles of Elliott Wave Theory, where Wave 5 typically represents a final upward movement in the trend. By waiting for the stock to trade above Rs. 181, you can potentially capture the gains from this anticipated upward movement.
This strategy aligns with the principles of Elliott Wave Theory, where Wave 5 typically represents a final upward movement in the trend. By waiting for the stock to trade above Rs. 181, you can potentially capture the gains from this anticipated upward movement.
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Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.