Back in April 2011, I had posted a videolog on Elliott Wave Analysis of TCS. There, I had suggested that the stock will head down. It is about a month since I made those comments, and the stock has remained steady. Hence this new post TCS Stock Revisted, where I reiterate my conviction.
I realize that some of you are wondering about what I think about TCS now that we have rallied to a new high this year. Recall that I was talking of a significant down move in this stock. However, I wouldn’t be surprised if you didn’t remember that my call was more of a medium term in nature.
I continue to suggest that we will see a move down to around 835 in the next 12 months. The reason is quite simply that we are in the final stages of an extended fifth wave, probably in the fifth of the fifth, so it is just a matter of time before the bulls will suffer from exhaustion. So, if you are an investor, you should prefer to take profits on most of your holdings of this stock, and wait for a more reasonable level to buy it back.
Here is the link for the comments that were posted and my resposes.Comments for TCS Stock revisited
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