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Eric Morera

Rallies In Lufthansa Stock Should Fail For More Downside

Rallies In Lufthansa Stock Should Fail For More Downside

Hello fellow traders. In today’s blog, we will recap a

In that blog, I talked about the reasons why the stock should remain weak in the coming weeks and months. Of course, we need to understand that the market never moves in one straight line. There will be pullbacks/bounces, after continuing its trend. Therefore, I was pointing out that the stock was trading at the 61.8 extension area from January 2018 peak. And that the internal cycle from 2/26/2019 peak has ended and correction against that peak should be seen.

Now, let’s have a look at the charts and compare them to each other.

 

Lufthansa AG 09.29.2019 Daily Chart Analysis

 

Lufthansa AG 10.20.2019 Daily Chart Analysis

 

In the first chart above you can see that I was expecting a pullback from the first blue box area. If you now see the second chart, you can see nicely that the stock infact started a bounce.

However, it does not change the overall outlook from last month. Lufthansa should ideally now see equal legs from the 2018 peak towards 9.22-5.80 area. This area can be used based on Elliott Wave Hedging for a good buy investment opportunity.  Summarizing, the stock should see more downside in the next coming weeks and month into 9.22-5.80 area where a bigger reaction higher in favor of the Lufthansa stock should ideally be taking place. I hope you liked this comparison.


 

I hope you liked this kind of different blog and I wish you all good trades. And for all who are interested in learning more about our unique blue box areas and also want to trade profitably in 2019  Click the link and see you insight

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Elliott Forecast
Elliott Forecast

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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