Elliott Wave Outlook for Zain Kuwait
4 May 2010
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From an Elliott Wave perspective, the outlook for Zain hasn’t changed much since I updated last. After correcting the prior 5-wave rally, the stock has taken off nicely like a 3rd wave should, ie on good volume and at a brisk pace. Some investors are worried because of the recent sideways movement. While it is certainly possible for a brief set back, I expect fresh buying to emerge on any decent correction. When the broad market starts moving up, Zain should be among the leaders. | |
I teach exactly this kind of Middle East markets setup, step by step, in the impulse and correction chapters of Five Waves to Financial Freedom, the same tools used across every market I trade, including Middle East indices.