Continued from ComfortDelGro Analysis (2)

Another index component stock that stick to Elliott Wave Fibonacci guideline very closely.

ComfortDelGro completed a 5-wave Primary degree Elliott Wave, Cycle degree Wave 1, at $2.49 since the start in Dec 2017.  Currently it is in Cycle degree Wave 2 correction.

Looking at the statistic for the 5-wave Primary degree Elliott Wave :-

P0 = $1.806

P1 = $2.083

P2 = $1.873

P3 = $2.464

P4 = $2.22

P5 = $2.49

This will give the following Fibonacci ratio :-

w1 : w3 : w5 = 1 : 2.134 : 0.975

w2 = 75.81% w1

w4 = 41.29% w3

compared with the standard model (wave 3 extended) of :-

w1 : w3 : w5 = 1 : 2.618 : 1

w2 = 61.8% w1

w4 = 38.2% w3

Now come …