Galaxy Surfactants: Bullish Wave 5 in Motion

6月13日

Technical Analysis of Galaxy Surfactants

Elliott Wave Analysis:
Galaxy Surfactants is exhibiting a classic Elliott Wave structure on the weekly time frame. The stock has successfully completed waves (1), (2), (3), and (4), and now appears to be unfolding wave (5). Within wave (5), we have finished waves 1 and 2 and are potentially starting wave 3 on the daily time frame.

Key Levels:

Invalidation Level: The low of wave (4) at 2221 serves as the invalidation point for this bullish wave count. If the stock price falls below this level, the current Elliott Wave structure would be invalidated.

Target Levels: Based on the wave structure, the potential targets for wave (5) are in the range of 3500 to 4000.

Technical Indicators:

MACD (Moving Average Convergence Divergence): The MACD is positively aligned on both daily and weekly time frames, indicating bullish momentum.

RSI (Relative Strength Index): The RSI is also showing strength, being positively aligned in both daily and weekly time frames. This supports the view that the stock is in a bullish phase.

Wave (5) Characteristics:

Wave (5) in Elliott Wave theory often represents the final leg of the primary trend. It is usually characterized by strong momentum and can sometimes extend to unexpected levels, especially if wave (3) was not the longest wave. The unfolding of wave (5) suggests that Galaxy Surfactants has significant upside potential.

Conclusion:

Galaxy Surfactants is showing a strong bullish setup according to Elliott Wave theory. With the stock potentially starting wave 3 of wave (5) and supported by positive MACD and RSI indicators on both daily and weekly time frames, the outlook is highly positive. The invalidation level is pegged at 2221, with targets towards 3500 - 4000 levels. Investors should monitor these levels closely to confirm the wave structure and potential continuation of the bullish trend.

I am not Sebi registered analyst.
My studies are for educational purpose only.
Please Consult your financial advisor before trading or investing.
I am not responsible for any kinds of your profits and your losses.

Most investors treat trading as a hobby because they have a full-time job doing something else.
However, If you treat trading like a business, it will pay you like a business.
If you treat like a hobby, hobbies don't pay, they cost you...!

Hope this post is helpful to community
Thanks
RK💕

Disclaimer and Risk Warning.

The analysis and discussion provided on in.tradingview.com/u/RK_Charts/ is intended for educational purposes only and should not be relied upon for trading decisions. RK_Charts is not an investment adviser and the information provided here should not be taken as professional investment advice. Before buying or selling any investments, securities, or precious metals, it is recommended that you conduct your own due diligence. RK_Charts does not share in your profits and will not take responsibility for any losses you may incur. So Please Consult your financial advisor before trading or investing.