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MrSparkles69

INCO Elliott Wave Count

VALE INDONESIA TBK (IDX_DLY:INCO)  
MrSparkles69 Updated   
IDX_DLY:INCO   VALE INDONESIA TBK
Wave Analysis Elliott Wave
2
0
waveanalysis elliottwaves
2023 was a bad year for INCO, and it I think it will continue being depressed for 2024 given the oversupply nickel condition.

I will make an entry after the (v) wave of the third wave ends. Wave 5 is gonna end somewhere around the 2000 level I believe.
Comment:
Wave (iv) of the third wave has commenced. Let's see how far it can rebound. Trend is still down.
Comment:
Wave (iv) of the third wave might be done. Vale Canada Limited and Sumitomo Metal Mining Co., Ltd will divest 14% of their INCO shares to the Indonesian Government represented by MIND ID. The agreed price was reported to be Rp.3070/share.

INCO might end its third wave there.
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