NMB Elliott Wave 5 Analysis: Target 300‑315, Key Stop‑Loss at 247

NMB is entering the late stage of a bullish Wave 5, aiming for 300‑315 with a stop‑loss shifted at 247, as the fourth‑wave triangle appears complete.

Signal: bullish

Current Elliott Wave count: Wave 5th

• Preferred levels:
• Support: 275-270
• Target: 300-315
• Stop Loss: 247
• Invalidation: 262

As we noted earlier, the stock is forming a triangle in the fourth wave, and the fifth wave is expected to move upward. The price pattern suggests that the fourth wave is likely complete, and we are now in the early stages of the final fifth wave, which should advance gradually toward a target of 300‑315 to complete the triangular thrust. The stop‑loss is now set at 247. This level must stay below the high of the first wave; otherwise the structure could re‑classify as a 1‑2‑1‑2 correction within the fifth wave, making the fifth wave an extension, or we could be in a second‑wave flat or complex correction. We'll monitor the situation closely in the near term.