that C&H breakout worked quite as expected - in fact a text book breakout and target of 34.5c reached ( expected 35c)...
been watching the low volume retrace from the 34.5c ==>30c and that brings me to another VERY VERY INTERESTING formation in place here...
posting two charts and two Fibonacci retracements and extensions here for a proper understanding and explanation of why I think 42c is now in play here - YES 42c target this side of November ...
Leg 1 of this
![]()
![]()
so the calculation for LEG 1 is as under:
26/10 - 25.5c LOW
02/11 - 30c HIGH
07/11 - 27c retrace to 61.8% fib level ==> this gave target of 34.28~34.5c
13/11 - 34.5c 161.8% Fib extension reached
=========================================================
This brings into LEG 2 of this movement on which I base my 42c target now...
![]()
![]()
Calculation of Leg -2 is as under:
07/11 - 27c LOW
13/11 - 34.5c HIGH
15/11 - 30c retrace to 61.8% Fib level of 29.865 ~ 30c
XX/11- 42.135 ~ 42c target at 161.8% Fib extension as per previous target of 34.5c
Hope this explains my train of thought... I have seen this play out very well in the past and have been putting them on HC in the past... (did it for AAR - another goldie from 2c ==> 8c recently and that worked to perfection)...
let us see if the 42c target is reached - imo before the end of Nov 2017... let us see if this is true...
as always, comments welcome and of course, no financial advice given... please dyor...
- Forums
- ASX - By Stock
- PTN
- KIN Chart
KIN Chart, page-9
-
- There are more pages in this discussion • 33 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add PTN (ASX) to my watchlist
|
|||||
Last
5.2¢ |
Change
-0.001(1.89%) |
Mkt cap ! $61.26M |
Open | High | Low | Value | Volume |
5.2¢ | 5.3¢ | 5.2¢ | $15.27K | 293.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 177572 | 5.1¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
5.3¢ | 220204 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 177572 | 0.051 |
2 | 219960 | 0.050 |
1 | 100000 | 0.049 |
1 | 104160 | 0.048 |
1 | 20854 | 0.047 |
Price($) | Vol. | No. |
---|---|---|
0.053 | 220204 | 3 |
0.054 | 267000 | 3 |
0.055 | 7615 | 1 |
0.056 | 300000 | 1 |
0.058 | 167000 | 1 |
Last trade - 15.23pm 09/09/2024 (20 minute delay) ? |
Featured News
PTN (ASX) Chart |