This is an interesting stock which had gave me some amount of profit within 2-3 months. But recently this stock had created a lots of panic to the investors. Many had got them-self traps in this stock and never get away with it. Me my self had been trap once, but managed to cut lost and bought back at much more lower price.
The situation -What is happening is due to a normal elliot wave pattern. In my view, the stock is now currently in wave 4, which created a zig zag pattern which coloured in blue and the price is down to 38.2% - 50% range. Although some might said that elliot wave 4 usually will drag a stock price down to 38.2% only, But in this case, it's different due to external factor such BURSA UMA warning against the stock which created panic among the investor.
What's Next - The stock price managed to rebound and begins it's wave 5. As usual, elliot wave 5 says that it should undergo a 5 small wave which starts with wave 1, which had passed. Now the stock is undergoing the wave 2. I reckon, that the price will go down until in between 50% to 61.8% before it could rebound back and created a small wave 3 for the big wave 5 and shoot up beyond 4.8.
