Menu
Brokers
MT4 Forex Brokers
MT5 Forex brokers
PayPal Brokers
Skrill Brokers
Oil Trading Brokers
Gold Trading Brokers
Web Browser Platform
Brokers with CFD Trading
ECN Brokers
Bitcoin FX Brokers
PAMM Forex Brokers
With Cent Accounts
With High Leverage
Cryptocurrency Brokers
Forums
All threads
New threads
New posts
Trending
Search forums
What's new
New threads
New posts
Latest activity
Log in
Register
Search
Search titles only
By:
Search titles only
By:
Menu
Install the app
Install
Reply to thread
Forums
Forex Discussions
Technical Analysis
Elliott Wave Analysis by EWF
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Message
[QUOTE="Elliottwave-Forecast, post: 194269, member: 40858"] Franco Nevada (ticker: FNV) is a Canada-based company that own royalties and streams in gold mining and other commodity and natural resource investments. The company does not operate mines, develop projects, or conduct explorations. The entire business model of the company focuses on managing the royalties and streams. In the following article, we will take a look at the Elliott Wave count for the company [HEADING=3]Franco Nevada (FNV) Monthly Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-Monthly20210419075429.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-Monthly20210419075429.jpg[/IMG][/URL] Monthly Elliott Wave chart for FNV above shows that the rally from all time low is unfolding as a 5 waves impulse Elliott Wave structure. Wave (I) ended at86.08 and pullback in wave (II) ended at 58.26. The stock resumed higher in wave (III) towards 166.11, and pullback in wave (IV) is proposed complete at 105.82. The stock still needs to break above wave (III) to avoid a double correction. Alternatively, the rally can be in a nest where the high on August 5, 2020 ended wave I of (III) and the low on March 1, 2021 ended wave II of (III). The alternate count implies a more bullish view of the stock [HEADING=3]FNV Daily Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-Daily20210419081022.jpg'][IMG alt="Franco Nevada (FNV) Daily Chart"]https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-Daily20210419081022.jpg[/IMG][/URL] Daily Elliott Wave chart for Franco Nevada (FNV) above suggests that wave (IV) pullback is proposed complete at 105.82. This means that the stock has resumed higher in wave (V) and should eventually break above wave (III) at 166.11. The rally from wave (IV) low so far looks impulsive which supports the idea the correction might be over, although a confirmation and break above wave (III) is still required to rule out a double correction. [HEADING=3]FNV 4 Hour Elliott Wave Chart[/HEADING] [URL='https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-4-Hour20210419082850.jpg'][IMG]https://elliottwave-forecast.com/wp-content/uploads/2021/04/FNV-4-Hour20210419082850.jpg[/IMG][/URL] 4 Hour Chart above shows that wave (IV) ended at 105.82 with internal subdivision as a zigzag. Down from wave (III), wave a ended at 131.78, and bounce in wave b ended at 151.48. Stock then resumed lower in wave c towards 105.62. Up from there, wave (1) ended at 112.17 and wave (2) dips ended at 105.64. Stock then resumes higher in wave (3) towards 125.29, and wave (4) dips ended at 121.2. Expect wave (5) to end soon which should complete wave I. Stock then should pullback in wave II to correct cycle from March 2 low before the rally resumes. As far as wave (IV) pivot at 105.82 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside. Source: [URL]https://elliottwave-forecast.com/stock-market/franco-nevada-fnv-may-have-resumed-higher/[/URL] [/QUOTE]
Insert quotes…
Verification
Post reply
Top
Bottom
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.
Accept
Learn more…