NINE ENT Australia, progressing LONG in TRIANGLE Formation
It seems that NINE Entertainment Australia is progressing LONG inside an Ascending Triangle, as I had forecast back in January, See here:
All EMAs have now crossed, including the MAYO and BLUEBERRY EMAs which confirms continued upward movement together with TDI also showing continued upward movement. Wave count remains the same, however although this is a long term position, when price action reaches the target area, we can expect a Reversal to start a bearish run, which in my opinion is a dangerous position for NINE Entertainment if they continue with the #FakeNews rhetoric and contempt for the Australian population, especially in the current political climate and leftist insanity driving politically leftist biased staff and programming. If this proves to be correct, we can expect a bearish Impulse on the Intermediate period which will prove disasterous for NINE ENT, driving the price well under $1 which occurred back in October 2016, in which case I will SHORT this stock until the full Impulse wave to at least 80 cents, unless the Impulse wave fails and NINE ENT changes management or direction. In my opinion, NINE ENT management needs to change to a more neutral and central whilst less biased approach to news and programming.
Currently on this Bullish trend, I forecast this stock to reach the region between $2.30 and $2.50 and will be holding this stock until the target area.
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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All EMAs have now crossed, including the MAYO and BLUEBERRY EMAs which confirms continued upward movement together with TDI also showing continued upward movement. Wave count remains the same, however although this is a long term position, when price action reaches the target area, we can expect a Reversal to start a bearish run, which in my opinion is a dangerous position for NINE Entertainment if they continue with the #FakeNews rhetoric and contempt for the Australian population, especially in the current political climate and leftist insanity driving politically leftist biased staff and programming. If this proves to be correct, we can expect a bearish Impulse on the Intermediate period which will prove disasterous for NINE ENT, driving the price well under $1 which occurred back in October 2016, in which case I will SHORT this stock until the full Impulse wave to at least 80 cents, unless the Impulse wave fails and NINE ENT changes management or direction. In my opinion, NINE ENT management needs to change to a more neutral and central whilst less biased approach to news and programming.
Currently on this Bullish trend, I forecast this stock to reach the region between $2.30 and $2.50 and will be holding this stock until the target area.
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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