AJX 0.00% 1.1¢ alexium international group limited

I put the daily into the wave chart and converted the bars into...

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    I put the daily into the wave chart and converted the bars into true range (removes the gaps) which give a slightly different look to the chart, then put a large'ish wave (or reversal) size over it (4 cents) to see the bigger picture.

    The last complete wave higher (337), showed it had easily enough cumulative volume (about double the two previous upwaves @33.7 mil) to push up and past the two previous highs. However it didn't or couldn't, as there is supply (selling) coming in which is thwarting the upward progress. At the minute it appear to be attempting to absorb the supply, but it leaves the share price vulnerable should demand fall away for any reason.

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    Last edited by Jako8557: 28/03/15
 
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