Bakkafrost, at the top of everything?Bakkafrost looks to be closing to the top of everything, IF previous pattern repeats itself. From just half a year ago Bakkafrost could be bought at around 440 NOK followed by a steady rise to a current 640 NOK. This is a staggering 50% increase in just half a year.
That alone is not the only factor Bakkafrost has against a further rise. We also see that if the Impulse Elliot Waves repeats itself we are close to an A,B,C elliot correction. Or even an A,B,C,D correction. But time will show.
Also Bakkafrost is getting very close to the top of the parallel channel its been impulsing in for close to a year now. If it breaks the channel, thats another case. But I find that unlikely but still possible. So basing it on previous Elliot Waves. We see that impulse wave 1,2,3,4 and 5 was completed. Then the Elliot A,B to C was completed. Immediately after that Bakkafrost continued into a new set of impulse waves, 1,2,3,4 and the fifth close to completing.
Still some more room for a further rise, but again, if the pattern repeats itself, we are likely to soon see the correction in Bakkafrost. I am short
