Ucal Fuel Systems have reported some interesting results for the quarter ended Sep 2017. The Elliott Wave Analysis of this stock suggests that we could be on the threshold of a wave 5, which will get confirmed upon a break out above the declining trend line shown in the chart below. So let us see how this plays out.
Wave 2 of Ucal Fuel Systems was 61.8% of wave 1
Here you see the Elliott Wave Analysis of the sub waves of wave 3 of Ucal Fuel Systems. Observe that sub wave v within wave 3 finished exactly at 61.8% of the distance from point 0 to point 3, just as you learned from my Elliott Wave Book, “Five Waves to Financial Freedom”.
We can also see that wave 4 has corrected wave 3 of Ucal Fuel Systems by 38.2%. Considering wave 2 was deep, this should normally be enough of a correction.
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