Elliot Wave Analysis

Looking at LBC from the perspective of Elliot Waves it is working nicely.
Can see wave one can be nicely divided into 5 subwaves up, followed by an ABC correction to finish wave 2.
Taking the Fib extension of Wave 1-2 shows us the 1:1 extension level lies just above a rather significant resistance level.

Also Note the RSI is showing Bullish Divergence and the MACD/ Histogram is curving up.

Beginner so any feed back welcome
Cheers
:D

코멘트:

Looks like i was a bit hasty on calling the end of wave 2.
Larger scale ABC formed a bottom on the 26th so now onto wave 3.
"Wave 3 is often the longest, but never the shortest!"