We appear to be in an expanded flat correction.
Not only does the wave count itself look like an expanded flat, but we can use a common ratio associated with an expanded flat to increase the probability that this structure is valid. Wave B, which completed with a Close at 1.925 is typically 1.382 times the length of Wave A.
Wave A is 26.7c. Therefore the Wave B target is 1.382 x 0.267 = 0.3689
1.547 (Wave A low) + 0.3689 = 1.915 (so, pretty close to the close)
In an expanded flat correction we can use some Fib guidlines to help approximates the end of Wave C
The entire ABC structure is often 0.618 x the length of the 5 wave impulse up.
That price range is 0.626. Therefore our Wave C target for this ratio becomes 1.538
Another ratio is taking the 1.618 times the length of Wave A (43c) which gives us a target of 1.527 for the completion of Wave C
BPT Chart, page-108
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Last
$1.25 |
Change
0.025(2.04%) |
Mkt cap ! $2.851B | |||
| Open | High | Low | Value | Volume |
| $1.24 | $1.26 | $1.23 | $11.87M | 9.487M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 192001 | $1.25 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.26 | 129594 | 4 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| BPT (ASX) Chart |