GFNORTE/O trade ideas
Elliott Waves Analysis for GFNORTE/O (Revisión 1.1)Hello Traders;
Today it is time to analyze GFNORTE/O, the sotck that represents Grupo Financiero Banorte, one of the largest banks operating in Mexico.
Iteration 1:
We are traveling in a wave (V), represented in purple. So far and because of the development that is taking place in the formation of the structure of the wave mentioned, we could expect this store to equal the length of the wave (III), that is to say to see the price of GFNORTE/O reach a price zone around $172.87 MXN. To determine if this will be accomplished or not, it will be necessary to analyze the lower grade fractal waves that make up wave (V), this is where the target price can be more accurately determined.
Iteration 2:
On the other hand, the fact that we have a wave (IV) (in purple) that almost reaches a 0.618 Fibonacci retracement invites me to think about the possibility that this wave is not really that (IV), but rather that we are facing a very early stage of wave (III) (in purple). If this were the case, we could see it coming for GFNORTE/O very bullish weeks or months, we would see it coming at such high prices that at the moment I don't even want to mention it. I suggest we don't get our hopes up, however, what the market does and the weather with this stock will dictate the last word.
What is important today is that we have 2 iterations that coincide in trend and for the moment that is enough.
Greetings
NOTE: The analyses that I share in this and other media are for PERSONAL USE for my academic training and should not represent an investment recommendation for ANYONE.
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Hola Traders;
Hoy toca analizar GFNORTE/O, emisora que representa al Grupo Financiero Banorte, uno de los bancos más grandes que operan en México.
Iteración 1:
Nos encontramos viajando en una onda (V), representada en color morado. Hasta el momento y por el desarrollo que se está dando en la formación de la estructura de la onda mencionada, podríamos esperar que esta tienda a igualar la longitud de la onda (III), es decir ver el precio de GFNORTE/O llegar a una zona de precio al rededor de los $172.87 MXN. Para determinar si esto tendrá cumplimiento o no, será necesario analizar las ondas fractales de grado menor que componen la onda (V), es ahí donde se podrá acotar con mayor precisión el precio objetivo.
Iteración 2:
Por otro lado, que tengamos una onda (IV) (en color morado) que casi alcanza un retroceso del 0.618 de Fibonacci me invita a pensar en la posibilidad de que esta onda no sea realmente esa (IV), si no que más bien nos encontramos frente a una etapa muy temprana de la onda (III) (en color morado). Si este fuera el caso, podríamos ver venir para GFNORTE/O semanas o meses muy alcistas, le veríamos llegar a precios tan altos que de momento no quisiera ni mencionar. Sugiero no hacernos ilusiones, sin embargo, lo que haga el mercado y el tiempo con esta emisora dictará la última palabra.
Al día de hoy lo que importa es que contamos con 2 iteraciones que coinciden en tendencia y de momento eso basta.
Saludos
NOTA: Los análisis que en este y otros medios comparto SON DE USO PERSONAL para mi formación académica y no deberán representar para NADIE una recomendación de inversión.
$GFNORTE last chance to ride the bull$GFNORTE in elliot wave 4 correction, once completed there is high probability to reach again the levels seen prior to pandemic: 120-140 pesos. Report numbers looked great and is one of the best companies where Mexican funds invest, so looks great for short or long term strategies.
$GBOOY Potential Breakout Targets Grupo Financiero Banorte SAB de CV is a holding company, which engages in the provision of banking services. It operates through the following segments: Consolidated Bank, Long-term Savings, Brokerage, and SOFOM and Other Finance Companies. The Consolidated Bank segment includes a range of products and services including retail and wholesale banking. The Long-term Savings segment offers insurance as well as management of retirement savings accounts such as pensions. The Brokerage Sector segment comprises the subsidiaries and provides products and services to individuals and corporations including brokerage services, financial advisory, portfolio structuring and management, asset management, investment banking and sale of investment funds, and equity and debt instruments. The SOFOM and Other Finance Companies segment refers to the activities of Arrendadora y Factor Banorte (leasing and factoring), Almacenadora Banorte (warehousing), and Solida Administradora de Portafolios. The company was founded in 1899 and is headquartered in San Pedro Garza García, Mexico.
Banorte el banco fuerte de mexico!Despues de un rally semanal la semana pasada, banorte esta buscando llegar a los 86 para buscar posteriormente los 88 mx muestra un recuperacimiento fuerte desde la caida de marzo.
BMV:GFNORTE/O
Banorte en problemasFormación de cambio de tendencia. Hombro-cabeza-hombro.
Nuevo precio objetivo: 75.56.
GFNORTE NeutroHasta que no supere los 106 es neutral o mas bien...solo para valientes.
Yo miro de afuera.
Frame Set Banorte-16/01Grupo Financiero Banorte SAB de CV(BMV:GFNORTEO) are dancing across the accumulation zone started in 2013, at the weekly graph are in the top. If we see the daily graph or the 30min we can see the overhead stock.
Target 1: 85.5
Exposed in local currency MXN.
