FBR Kicking Ass -Currently towards end of Bullish Wave 3 Impulse
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It is quite evident that FASTBRICK ROBOTICS LTD (ASX:FBR) has broken out of a Wedge and is continuing on a BULLISH trend, not only due to technicals, but also due to the recent announcement of an agreement with CATERPILLAR (NYSE:CAT), to Provide services to Caterpillar's construction customers. The global addressable market is now estimated to be $100 ~ $200 Billion.
Just after pinning the Mayo (200 EMA), price action seems to be towards the final stages of a Wave 3 Impulse where we will see a small pullback, possibly down to the Support (which was completely obliterated), for continuation upwards to a Wave 5 Impulse. I do not expect the ABC correction waves to drop below wave 4 and in my opinion, the next Impulse wave it seems should have the same agression as the Bullish trend continues as more financial information comes in and more projects are acquired. All EMAs are flaring outwards whilst TDI shows definite Sharkfin with Blood in the water, however the outer bands have widened considerably, thus suggesting pending upwards movement.
I have purchased this stock back here:
Where I first identified this stock as being a very high probability Buy/LONG trade to hold long-term. There will be an entry opportunity at the bottom of wave 4, and I'll update this chart when structure is broken
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DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Just after pinning the Mayo (200 EMA), price action seems to be towards the final stages of a Wave 3 Impulse where we will see a small pullback, possibly down to the Support (which was completely obliterated), for continuation upwards to a Wave 5 Impulse. I do not expect the ABC correction waves to drop below wave 4 and in my opinion, the next Impulse wave it seems should have the same agression as the Bullish trend continues as more financial information comes in and more projects are acquired. All EMAs are flaring outwards whilst TDI shows definite Sharkfin with Blood in the water, however the outer bands have widened considerably, thus suggesting pending upwards movement.
I have purchased this stock back here:
Where I first identified this stock as being a very high probability Buy/LONG trade to hold long-term. There will be an entry opportunity at the bottom of wave 4, and I'll update this chart when structure is broken
----------------------------------------------------------------------------------------------------------------------------------------------------------
DISCLAIMER: This chart is for sharing and educational purposes only and is not intended to be a signal service or similar.
This chart analysis is only provided as my own opinion, based on my own analysis and comes with absolutely no warranty that this analysis is correct, whatsoever. Do not trade this chart if you do not have your own strategy. Trade only with your own strategy at your own risk. Plan your trade and trade your plan... and IF in doubt, stay out.
.....::::: If you like this chart, please click on the THUMBS UP ! :::::.....
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Nota
Caterpillar Boosts Outlook at Revenue Jumps 10%Note that FBR has made an agreement with Caterpillar to provide construction services to Caterpillar's construction customers... This is a really BIG deal and with the growth revenue jump of 10%, the outlook couldn't be better... I'm expecting large impulse waves to form on this stock, long term for a great journey LONG.
wsj.com/articles/caterpillar-sees-improving-construction-demand-1500985613?mod=e2tw
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