Metropacipic Investment Corporation (MPI) Completes ABC Correction As Triple Three

Metropacipic Investment Corporation (MPI) Completed ABC Correction  As Triple Three and currently on Wave 3 Impulse with a possible target price at 5.60.

Metro Retail Stores Group (MRSGI) Completes 5-3 Wave Cycle

On April 10, 2019, the price of Metro Retail Stores Group (MRSGI)  drew a five-wave rally with an ending diagonal in the position of wave 5. Naturally, a three-wave decline followed. The retracement developed as an A-B-C zigzag and dragged the price down to almost exactly the 78.6% Fibonacci Retracement.

Bitcoin BTCUSD Completes 5-3 Cycle

The Elliott wave structure showed that the decline from $10, 955 to $9,755 was impulsive. It was labeled 1-2-3-4-5 and was followed by a W-X-Y Double Zigzag correction. Taken together, the impulse and the correction formed a complete 5-3 wave cycle pointing downwards.

Philippine Stock Exchange Index (PSEi) ABC Zigzag Correction

Philippine Stock Exchange Index (PSEi) may be making the last corrective WAVE (C) on a 5-3-5  or ZigZag Correction. Wave (B) just completed with Leading Diagonal at 8419.59. Wave (C) which is the last leg of ABC Zigzag correction is unfolded and it seems that the first impulsive Wave 1 has ended and currently making Wave 2. Wave 2 may go up to 8000 levels and after that, it will go down to complete  Wave (C).  Wave  (C) is forecasted to end at 6271. The time period to complete Wave (C) maybe around 2nd Quarter of 2020.

The iShares MSCI Philippines ETF (EPHE) ABC Correction

The iShares MSCI Philippines ETF (EPHE) seeks to track the investment results of a broad-based index composed of Philippines equities.

EPHE maybe making the last corrective WAVE C on a 5-3-5  or ZigZag. Wave B just completed with Leading Diagonal at 37.15. Wave C which is the last leg of ABC correction is unfolded and it seems that the first impulsive Wave 1 has ended and currently making Wave 2. Wave 2 may go up to 35 levels and after that, it will go down to complete the impulsive wave of Wave C.  Wave 5 of Wave C is forecasted to end at 27. The time period to complete Wave C maybe around December 2019.

Bank of the Philippine Island (BPI) in a Expanded Flat Correction

The current Elliot Wave structure of Bank of the Philippine Island (BPI) suggest that it ended Expanded Flat Corrective waves. Down from 7/19/2019 high (93.00) Wave 3, wave A ended at (88.00) and wave B ended at (95.00). Wave C ended at 86.25 or 123.6% Fibonacci Extension. Is this the start of the last impulsive wave 5? Wave 5 forecast target is at 103.00.

Expanded Flat is a 3 waves corrective pattern, and the inner subdivision is labeled as A, B, C with 3,3,5 structure. That means waves A and B are always corrective structures i.e. could be WXY, WXYXZ, Zigzag or any 3 waves corrective pattern. Wave C is either 5 waves impulse or ending diagonal pattern. In the graphic below, we can see what Expanded Flat structure looks like. Inner structure has ABC labeling, where wave B can complete below or above the starting point of wave A. Wave C should complete below the endpoint of wave A (usually at 1.236-1.618 Fibonacci extension A related to B).

Filinvest Land, Inc. (FLI) Complete ABC Correction

On July 16, 2019, the price of Filinvest Land, Inc. (FLI) drew a five-wave rally with an ending diagonal in the position of wave 5. Naturally, a three-wave decline followed. The retracement developed as a simple A-B-C zigzag and dragged the price down to almost exactly the 161.8% Fibonacci Extention.