Many analysts have given Shire a buy/strong buy rating,
"Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock."
Elliott Waves shows 3 major impulsive waves amounting to the high of around £58 in August 2015. The decline after bounced off the trendline at £34.36 completing wave A of the retrace. Due to attractive fundamentals and a strong uptrend, it would make sense for wave 4 of the 5 wave impulse to be a triangle as price tightens and indicators reset before reaching new highs.
This correction could take us into q2 of 2018 and gives a roadmap for trading the movements within the triangle. A breakup of the triangle signals the higher prices will come sooner, whilst a breakdown signals this correction could be a lot deeper that expected.
Happy trading!
"Seventeen equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock."
Elliott Waves shows 3 major impulsive waves amounting to the high of around £58 in August 2015. The decline after bounced off the trendline at £34.36 completing wave A of the retrace. Due to attractive fundamentals and a strong uptrend, it would make sense for wave 4 of the 5 wave impulse to be a triangle as price tightens and indicators reset before reaching new highs.
This correction could take us into q2 of 2018 and gives a roadmap for trading the movements within the triangle. A breakup of the triangle signals the higher prices will come sooner, whilst a breakdown signals this correction could be a lot deeper that expected.
Happy trading!