Trade view / 23 November 2015 at 6:09 GMT
The stock of Svenska Cellulosa AB (SCAb:xome) appears to be at its peak, but in the medium term there is still upside potential. Within the cycle that started on October 8 there's room for growth and a minor third wave breakout is on the cards.
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06 November 2015 at 7:36 GMT
SCAb:xome should be involved in a larger topping process and risk/reward is not looking too good for bulls short to medium term. A retracement down to and towards the support line in red is a feasible assumption. Wave 4 of lesser degree then the cycle possibly about to complete. Note the clear five wave structure off the most recent lows...
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