NMB Elliott Wave: Wave 5 Impulse Setup After Triangle Breakout

NMB is in the early stages of a Wave 5 advance following a triangle consolidation breakout. A break above 262 confirms the move, with a stop-loss at 233.

Signal: bullish

Current Elliott Wave count: Wave 5th

• Preferred levels:
• Resistance: 262
• Target: 300-315
• Stop Loss: 233
• Invalidation: 219.10
• Breakout: 262

On NMB, we are most likely in the early stages of a wave 5 advance following a lengthy consolidation that completed a triangle. However, there is an alternative count where this could be an X wave within wave 2. A breakout above the 262, 268, and 272 resistance levels will confirm the triangle breakout and validate wave 5. For a tighter, lower-risk setup, the stop-loss is at 247.2, while the broader stop-loss for the triangle pattern sits at 233. New entries are recommended only after a confirmed breakout above 262. Conversely, the triangle pattern would be invalidated—and the alternative count validated—if the price breaks lower to the 219.10 level.