OANDO BUYS Oando PLCNSENG:OANDOsimismohsThis is an interesting monthly structure. Oando is currently around ₦35.10, almost exactly at the 61.8% Fibonacci retracement at ₦35.00. Your chart suggests the larger bullish expansion may not necessarily be over, but the correction may still need one final leg lower before the next major markup phase. Key levels from the chart LevelPriceSignificance Current Price₦35.10Sitting directly at 61.8% 61.8% Fib₦35.00Immediate support 71% Fib₦27.60Major accumulation / potential C-wave completion 50% Fib₦44.50First recovery barrier 30% Fib₦60.65Major resistance Previous high₦84.80Structural breakout level Major Target₦100.20–₦106.70First extension region Extended Target₦134.60Long-term bullish extension The ABC structure is the important part I can see why you've labelled this A-B-C. The initial decline from the ₦80+ region forms A, followed by the recovery toward roughly ₦55–₦60 as B. Price is now declining again, potentially developing the final C leg. That makes ₦27.60–₦35.00 particularly important. I wouldn't treat ₦35 as an automatic bottom. Your projected path toward approximately ₦27–₦30 actually makes technical sense if C still needs completion. If price reaches that area and produces a convincing monthly reversal, the risk/reward changes considerably. Bullish roadmap The sequence I'd want to see is: ₦35 → potentially ₦27.60 → reversal → ₦44.50 → ₦60.65 → ₦84.80 → ₦100+ → ₦134.60 The real confirmation isn't simply bouncing from ₦35. A recovery through ₦44.50, followed eventually by ₦60.65, would provide much stronger evidence that the corrective structure has finished. Above ₦84.80, we'd be dealing with a completely different technical situation: price discovery / bullish expansion becomes the dominant thesis. Signal-style summary OANDO PLC Market Phase: Major Correction / Potential Re-Accumulation Current Price: ₦35.10 Preferred Accumulation Region: ₦27.60–₦35.00 TP1: ₦44.50 TP2: ₦60.65 TP3: ₦84.80 Extended Target: ₦100.20–₦106.70 Long-Term Extension: ₦134.60 Technical Bias: 🟢 Bullish long term, but short-term downside risk remains while the proposed C-wave is incomplete. One thing I particularly like about this chart is the asymmetry: around ₦28–₦35, the chart is contemplating a potential long-term move back toward ₦85–₦100+, rather than chasing Oando after such a move has already happened. The trade-off is that confirmation is currently weak, so the accumulation thesis and the confirmed bullish thesis should be treated separately.