SHARP 3/C UP TO BEGIN…

We captured the move up from OCT LOW (CYCLE II), then we wrote about THE FIRST FIVE up and this was followed by our report on sector leaders (who is leading the pack?). We said in our 06 NOV report that “A minor trend takes time to become intermediate. And an intermediate trend takes time to become primary. This anticipated upmove was of a MINOR degree and we expect it to become Intermediate. The strategy remains partial spot accumulation as its better to be patient with more price confirmation than otherwise.”
Now that prices have dipped and put the conventionalism back in doubt whether we have a bottom here or not, the current wave structure tells us that we are at the start of the next leg up. This could either be a C or 3 wave up, both suggest that there is furtherupside pushing us back to anticipated targets of 100% from the OCT lows. RSI NON CONFIRMATIONS and support at 40 tell us that prices have momentum support also. Even KEY REVERSAL bars made during OCT lows are firmly in place and unbroken. Above 13,000 we are looking at 30,000 for BETFI (nearly 100% upside). The other indices viz. BETC, BET and BETNG are also in the positive territory. The blue chips, BRD, TEL, TGN and SNP also suggest further upside. If we indeed are in the 3/C up, get ready for some fast action.
This should be the time to step up on accumulation and play the real trend. We will review if BETFI breaks below 12,500-13,000.
Enjoy the latest WAVES.ROM
ORPHEUS ROMANIA RESEARCH
WAVES.ROM is a perspective product published on TUESDAY’S and THURSDAY’S. The report highlights Romanian Stock Market top three Equity Indices viz. the top ten blue chip BET Index (.BETI), BET Composite (.BETC), the Financial Index BETFI (.BETFI) and the local currency RON (EURRON=, RON=). The products covers the top ten BET component stocks. (ROMP.BX, SNPP.BX, BATR.BX, BRDX.BX, TSEL.BX, ATBE.BX, BRKU.BX, BIOF.BX, IMPT.BX, TUBU.BX) and all the components of BETFI Financial Index(SIF2.BX, SIF5.BX, SIF3.BX, SIF1.BX, SIF4.BX) are covered in the report. The product highlights Primary (Multi Month) and Intermediate (Multi Week) price trends. The report illustrates key price levels, price targets, price projections and time turn windows. The product uses Elliott waves, traditional technical analysis tools, sentiment indicators and other alternative research tools like INTERMARKET to spot outperformers. WAVES.ROM, CHANNELS.BVB and CHANNELS.RASDAQ are bundled together as PERSPECTIVE products. Unlike WAVES which focuses more on blue chips, CHANNELS covers all the BVB and RASDAQ stocks.
REUTERS COVERAGE .BETFI, TUBU.BX, TSEL.BX, SNPP.BX, SIF5.BX, SIF4.BX, SIF3.BX, SIF2.BX, SIF1.BX, ROMP.BX, IMPT.BX, BRKU.BX, BRDX.BX, BIOF.BX, BATR.BX, ATBE.BX,.BETFI)
ORPHEUS RESEARCH AT REUTERS – UNITED KINGDOM
ORPHEUS RESEARCH AT REUTERS – USA