Elliott Wave Analysis of SABIC (Saudi Arabia) 31May2010

Author

Ramki
May 30, 2010

There are few other approaches to the financial markets that serve us better than Elliott Wave Analysis. As I have said so often, an extended 5th wave can make us rich. Take SABIC for example. Just as recently as 12th May I had warned of a sell off to 75. At that time the SABIC was trading at 103 plus levels. By 25th May, the stock had already moved down by over 25% to test 76.75. The recovery since then has been strong, but I am not convinced that we are finished with the selling. Stay on the sidelines until we reach at least 66. Good luck. Ramki

P.S. I am on holidays for 3 weeks starting 2nd June – R

Reply

or to participate.