Trade Section ELLIOTTWAVE,GWLC,M1 Elliott Wave Analysis & Forecast, Gharibwal Cement – GWLC, M1, 05-Mar-2020

Elliott Wave Analysis & Forecast, Gharibwal Cement – GWLC, M1, 05-Mar-2020

Please refer to my previous analysis of 5th Jan, 2019 in which elliott wave completed its structure according to prediction.

As you can see the blue wave C place a bottom near 8.00 on 1 sep, 2019 and completed it structure in simple zigzag format.

According to my analysis and wave count, all conditions are met to place bottom and we will saw big rally towards previous high near 70 or even much higher in coming years.

At the moment prices are continuing higher in red wave 3 and ideal target for this red wave 3 is near 32.50. Once this wave will complete we will see shallow or deep retrence metn in red wave 4 before finally rally continue to beyond 32.50 area.

Some Points for Investors

  1. Fair Share Value : 2.65
  2. Price to Book Ratio 0.4x
  3. GWLC is currently unprofitable.
  4. GWLC’s debt to equity ratio (31.1%) is considered satisfactory.
  5. GWLC’s debt to equity ratio has reduced from 43.7% to 31.1% over the past 5 years.
  6. GWLC has a high level of physical assets or inventory.

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