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: 216191, member: 40858"] Ammo Incorporated is an U.S. American defense company producing high-quality ammunition. The company owns STREAK (R), HyperClean and military ammunition technologies. Headquartered in Scottsdale, Arizona, USA, Ammo can be traded under the ticker $POWW at Nasdaq. In the article from October 2021, we have expected a 3rd swing within a correction from June 2021 to see a reaction from 4.18-1.86 area. Indeed, the reaction has taken place in May 2022 from the blue box area. However, it has failed below June 2021 lows. Now, we see $POWW trading below May 2022. Here, we provide an update and discuss whether the bottom is near. [HEADING=3]Ammo Monthly Elliott Wave Analysis 12.26.2022[/HEADING] The monthly chart below shows the Ammo stock $POWW traded at Nasdaq. From the all-time lows, the stock price has developed a cycle higher in black wave ((I)) of grand super cycle degree towards the all-time highs on February 1998 at 195.31. From the highs, a correction lower in black wave ((II)) has unfolded as an Elliott wave zigzag pattern. It has printed an important bottom in September 2003 at 0.03. Within 5 years and half, the stock price went almost to zero. From the lows, a new cycle in wave ((III)) has already started and should extend towards 195.31 highs and even higher. Within wave ((III)), one can see the initial cycle in wave I. Hereby, red wave I of blue wave (I) has ended in June 2021 at 10.37 highs. From there, a consolidation in wave II should find support above 0.03 lows in 3, 7, 11 swings. Once ended, a new larger cycle in red wave III towards 10.37 highs and higher should take place. [HEADING=3][URL='https://elliottwave-forecast.com/wp-content/uploads/2022/12/POWW-monthly2.jpg'][IMG alt="Ammo Elliott Wave Monthly"]https://elliottwave-forecast.com/wp-content/uploads/2022/12/POWW-monthly2-300x147.jpg[/IMG][/URL][/HEADING] [HEADING=3]Ammo Daily Elliott Wave Analysis 12.26.2022[/HEADING] The daily chart below shows in more detail the pullback in wave II which unfolds as a zigzag pattern being 5-3-5 structure. Firstly, from the June 2021, an impulse in black wave ((A)) has set a low at 3.52 in May 2022. Secondly, a bounce in black wave ((B)) has printed a connector high at 6.05 in August 2022. Thirdly, the price broke 3.52 lows opening up a bearish sequence. While below August 2022 highs, the price can still extend lower. However, it is impossible to reach the equal legs extension area being in the negative range. One should note that the stock price has erased already RSI divergence. That might be a hint that Ammo Inc. may truncate in black wave ((C)) at 0.618-0.786 extension range being 1.81-0.65 area. Investors and traders can buy $POWW from 1.81-0.03 area targeting 10.37 highs and higher in medium term and 195.31 highs and beyond in the long run. [URL='https://elliottwave-forecast.com/wp-content/uploads/2022/12/POWW-daily2.jpg'][IMG alt="Ammo Elliott Wave Daily"]https://elliottwave-forecast.com/wp-content/uploads/2022/12/POWW-daily2-300x147.jpg[/IMG][/URL] Source: [URL]https://elliottwave-forecast.com/stock-market/bottom-ammo-incorporated/[/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…