Vedenta Target 1000??

lliott Wave analysis is a form of technical analysis that attempts to predict market trends by identifying repetitive wave patterns. It was developed by Ralph Nelson Elliott in the 1930s. Here's a brief overview of the Elliott Wave principles and how they might apply to analyzing a company like Swedish Orphan Biovitrum AB (SOBI), often abbreviated as "SOBI" or referred to as "Svedenta" in some contexts.

Elliott Wave Principles
Wave Structure: According to Elliott, market prices move in waves. There are two types of waves:

Impulse Waves: These waves move in the direction of the larger trend. They consist of five sub-waves: three in the direction of the trend (1, 3, and 5) and two corrections (2 and 4).
Corrective Waves: These waves move against the trend. They consist of three sub-waves (A, B, and C).
Wave Degree: Waves can be broken down into smaller waves, which are part of larger waves. The hierarchy can be from small to large: Subminuette, Minuette, Minute, Minor, Intermediate, Primary, Cycle, Supercycle, and Grand Supercycle.

Wave Characteristics:

Wave 1: Often hard to identify until Wave 2 ends.
Wave 2: Retraces much of Wave 1 but never beyond its starting point.
Wave 3: Typically the largest and most powerful wave.
Wave 4: Corrects Wave 3 but typically does not enter the price range of Wave 1.
Wave 5: Moves beyond the end of Wave 3.
Corrective Wave Patterns: Various patterns like Zigzags, Flats, Triangles, and Complex corrections.

Analyzing SOBI (Svedenta)
Historical Data: To apply Elliott Wave analysis, you need historical price data. This includes identifying significant highs and lows over time to mark the waves.

Current Market Position: Identify where the stock currently is in the Elliott Wave cycle. This requires detailed chart analysis to determine if it’s in an impulse or corrective phase.

Projecting Future Movements: Based on the identified wave patterns, project possible future movements. This includes anticipating corrective waves if the market is currently in an impulse wave, and vice versa.

Steps to Perform Elliott Wave Analysis on SOBI
Gather Historical Price Data: Obtain historical price data for SOBI. This can typically be done through financial market platforms or trading software.

Identify Wave Patterns:

Start by marking the largest trends on a long-term chart.
Break down the large trends into smaller waves according to the Elliott Wave principles.
Label the Waves: Use standard Elliott Wave notation (1-5 for impulses, A-B-C for corrections) to label the identified waves.

Analyze Current Market Position: Determine where SOBI is within the Elliott Wave cycle. This involves looking at recent price action and volume.

Project Future Trends: Based on the current position in the wave cycle, project potential future movements.

Validate with Other Technical Indicators: Use additional techn