Elliot Wave Theory Applied to the DISHMAN CARBOGEN (DCAL).Most of Elliot principle apply to the current marketplace, but some experience and interpretation is necessary.
The price decline in the 3rd wave of 216.80 addresses the issue: Are there
exceptions to the 21% rule that changes a bull market to a bear market? A 21%
drop from a high of 216.8 is 122.85, very close to the point where prices stopped their
decline and reversed.
Once the price breaks the above channel, we might expect a move till 200 mark. During the subsequent decline, prices attempted to rally.
Overall sentiment looks Neutral for DCAL, one can start accumulating at the current market price for the target of 170 to 200 odd levels in the coming months.
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