Report
Eric Morera

ADNT : Should Pullback Before Resume Rally

 

Adient Plc (ADNT) designs, develops, manufactures & markets a wide range of seating systems & components for passenger cars, commercial vehicles & light trucks & serves globally. The company is based in Dublin, Ireland. It comes under Consumer Cyclicals sector as Auto Parts Industry & trades under “ADNT” ticker at NYSE.

Since October-2016, ADNT made an ATH at $86.42 & ATL at $5.90 during global market sell-off in early 2020. Thereafter, it favored ended impulse cycle at 6/04/2021 high against the cycle started from 3/18/2020 low. While below there, it started correcting lower in proposed zigzag correction.

ADNT – Elliott Wave Latest Daily View: 

During global sell off in early 2020, it made $5.90 as ATL on 3/18/2020. Above there, it favored ended ((1)) at $22.57 high on 6/08/2020 & placed ((2)) at $15.00 low on 8/07/2020 low. ((2)) was shallow correction slightly past below 0.382 of ((1)). While above ((2)) low, it favored ended ((3)) at $38.26 high on 1/07/2021 & placed ((4)) at $30.47 low on 1/27/2021. The final leg ((5)) was ending diagonal & favored ended at $53.16 high on 6/04/2021 as I red impulse. Below there, it favors II correction in proposed zigzag structure.

Below $53.16 high, it started correcting lower against the cycle from March-2020 low. It favored ended ((A)) at $34.56 low on 8/05/2021 & proposed ended ((B)) as double correction at $50.96 high on 1/13/2022. While below $50.96 high, it placed (3) at $30.53 low & currently favoring (4) correction, before it starts (5) of ((C)) lower to end II correction between 32.43 – 20.94 area before it resumes next leg higher. Alternatively, it might ended II as double correction at $30.53 low & can see more upside, while dips remain above that level. III red will confirm, when it breaks above I red high of $53.16.

ADNT – Alternate Elliott Wave View: 

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Source:-forecast.com/stock-market/adnt-pullback-before-resume-rally/

#elliottwave #trading #adnt

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Elliottwave-Forecast.com (by EME PROCESSING AND CONSULTING LLC) was founded in 2005 by Eric Morera. Since inception our company has provided tailored Financial Market Services to thousands of clients. ElliottWave-Forecast has built a reputation on accurate technical analysis and a winning attitude. By successfully incorporating the Elliott Wave Theory with Market Correlation, Cycles, Proprietary Pivot System, we provide precise forecasts with up-to-date analysis for 52 instruments including FX majors, Gold, Silver, Copper, Oil, TNX and major Equity Indices. Our clients also have immediate access to our proprietary Actionable Trade Setups, Market Overview, 1 Hour, 4 Hour, Daily & Weekly Wave Counts. Weekend Webinar, Live Screen Sharing Sessions, Daily Technical Videos, Educational Resources, and 24 Hour chat room where they are provided live updates and given answers to their questions. 

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Eric Morera

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