Antero Resources (AR): Is It Ready For Next Rally ?

Antero Resources Corporation, (AR) engages in the development, production, exploration & acquisition of natural gas, natural gas liquids & oil properties in the United States. It is based in Denver, Colorado, trades at “AR” ticker at NYSE & comes under Energy sector.

Since 2014 high, AR traded lower & made a low of $0.64 in March-2020. Above there, it started impulse sequence higher as I red ended at $48.80. It favors pullback in II & expect to find support between $24.08 - $10.95 area to resume higher.

AR - Elliott Wave Latest Weekly View: 

In weekly, it placed ((1)) at $21.99 high & ((2)) at $15.38 low as shallow correction. It extended higher in ((3)), which finished at $39.24 high. It corrected lower in ((4)) as 0.382 Fibonacci retracement of ((3)), ended at $30.94 low. Finally, it finished ((5)) at $48.80 high as wave I impulse. Below there, it is correcting lower in zigzag in II before turning higher.

AR - Elliott Wave Latest Daily View: 

Below I red high, it placed ((A)) at $27.58 low & ((B)) at $45.33 high. It favors lower in ((C)) between $24.08 - $10.95 area to finish II correction before upside resumes. It placed (1) at $28.99 low, (2) at $40.19 high, (3) at $19.91 low & favors bounce in A of (4). It expects to bounce in (4) in 3 or 7 swings before turning lower in (5) in extreme areas, where buyers expect to enter the market for at least 3 swing higher or next sequence up.

Source: https://elliottwave-forecast.c...