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 ......