PSXStock

Elliott Wave Analysis & Forecast, Thall Ltd. – PSX:THALL, M1, 20210222

Thal Limited (THALL:PSX) is a diversified national conglomerate engaged in the manufacture of Engineering,  Jute, Laminate sheets and Paper sacks.

These businesses are engaged in the manufacturing of quality products serving a variety of segments. The Engineering segment is engaged in the manufacturing of automotive parts such as car air-conditioners, radiators, wiring systems and engine components while the Building Material and Allied product segment overlooks the Jute, Papersack and Laminate operations.

If we look at above long term monthly chart, we clearly see that Long term red wave [I] finished @ 721.23 by placing medium term top.  This wave [I] completed its nice five sub wave structure (blue wave 1,2,3,4,5)  on May, 2017. after this we saw correction in red wave [II]. this finished its structured by placing long term bottom @ 224 on Oct, 2019.

After completion of Red wave [II],  red wave [III] has started and the ideal target for this wave will be much beyond red wave [I].

At the moment prices are correcting in green wave ii of blue wave 5 of red wave [III] and we expect that bottom will place near 380-400 area  which is 38% Fibonacci level of green wave i. Once this bottom will place we will see new impulsive rally towards 700 area or even higher in green wave iii.

 

muhiuddin

 

Financial Disclosure: The author is independent of any kind of funding, including commercial, private and individual, and has no relevant financial interest except It holds 0% above stock out of Total Stock Portfolio at the time of article was written.

Disclaimer : The information provided on this site should not be construed as investment advice. All information presented on this site is the opinion of the author only and is not a solicitation to buy, sell, or hold any investment, stock, bond, crypto, forex or security of any kind. You should be aware that certain types of stock/securities/bond/fund/crypto/currencies carry greater financial risk. Prior successes and past performance with regards to earnings and income are not an indication of potential future success or performance. Neither the author nor company assume responsibility or liability for your trading and investment results. The author and/or company may hold positions in the stocks, futures or industries discussed here.

Comment here