Heineken Short Term Update

Heineken shows multiple patterns that it justifies its own post today. Since the top in March last year, HEI appears to be completing an A-B-C corrective pattern. Since A and B look like a 3-wave and C like a 5-wave it must be a 3-3-5 flat ¬†(although it’s not flat, it’s more like a zig-zag). ¬†Zooming in on wave C, we see a 5 wave unfolding. Wave 1 looks like a descending triangle, wave 3 and impulse. It even show alternation in wave 2 and 4. Wave 4, a triangle, is the last move before the final trust. Using trend channels the price target is around 42.

140126 HEI

It doesn’t come more text book than this. A rise above 49 invalidates this projection and indicates that something else is unfolding.

 

 

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