Elliott Wave Forecast Team
ElliottWave-Forecast.com
Franco Nevada (ticker: FNV) is a leading gold royalty and stream company with one of the largest and most diversified portfolios of cash flow-producing assets. The company’s business model provides investors with gold price and exploration optionality while limiting exposure to many of the risks of operating companies. Franco-Nevada is debt-free and uses the company’s free cash flow to expand Franco-Nevada’s portfolio and pay dividends.
Franco Nevada (FNV) monthly Elliott Wave chart
FNV rally from the all-time low is in progress as 5 waves impulse Elliott Wave structure. Wave (I) ended at 86.06 and pullback in wave (II) ended at 58.26. The stock then resumed higher in wave (III) towards 166.11 and wave (IV) pullback ended at 105.62. Wave (V) is currently in progress and subdivide into another 5 waves to a lesser degree. Up from wave (IV) low on 3/1/2021 low, wave I ended at 155.89. The stock is now correcting the cycle from 3/1 low in 3, 7, or 11 swing before the rally resumes.
FNV daily Elliott Wave chart
FNV is currently within wave (V) from an all-time low. Up from wave (IV), wave ((1)) ended at 123, and pullback in wave ((2)) ended at 121.2. Wave ((3)) ended at 154.15, wave ((4)) pullback ended at 145.71, and wave ((5)) ended at 155.89. This completed wave I of (V). Wave II pullback is in progress to correct cycle from wave (IV) low on 3/1/2021 low before the rally resumes. Down from wave I, wave ((A)) ended at 142.01, and wave ((B)) can still fail while below wave I at 155.89. Afterward, it should turn lower 1 more time in wave ((C)) before wave II completes and the stock resumes higher.
FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.
Recommended content
Editors’ Picks
EUR/USD struggles to hold above 1.0550, eyes on German inflation data
EUR/USD stays on the back foot and trades in negative territory slightly below 1.0550 on Thursday. Soft regional inflation data from Germany seems to be weighing on the Euro as investors await nation-wide Consumer Price Index figures.
GBP/USD trades below 1.2700 on modest USD recovery
GBP/USD stays under modest bearish pressure and fluctuates below 1.2700 on Thursday. The US Dollar corrects higher following Wednesday's sharp decline, making it difficult for the pair to continue to push higher. US markets will remain close on Thanksgiving Day.
Gold clings to small daily gains near $2,650
Gold (XAU/USD) reverses an intraday dip to the $2,620 area and trades near $2,650 on Thursday, albeit it lacks bullish conviction. Investors remain concerned that US President-elect Donald Trump's tariff plans will impact the global economic outlook.
Fantom bulls eye yearly high as BTC rebounds
Fantom (FTM) continued its rally and rallied 8% until Thursday, trading above $1.09 after 43% gains in the previous week. Like FTM, most altcoins have continued the rally as Bitcoin (BTC) recovers from its recent pullback this week.
Eurozone PMI sounds the alarm about growth once more
The composite PMI dropped from 50 to 48.1, once more stressing growth concerns for the eurozone. Hard data has actually come in better than expected recently – so ahead of the December meeting, the ECB has to figure out whether this is the PMI crying wolf or whether it should take this signal seriously. We think it’s the latter.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.