well it's below the 10 day MA, but there is a narrative in the chart.
1. We are in the 5th wave on a weekly/monthly timeframe (hard turquoise line)
2. Narrowing the timeframe shows that we are in wave 4 on a daily timeframe (light dashed turquoise line), within that 5th wave
3. within the 4th wave on the daily there is a bull flag (bullish formation that looks like a consolidation wedge outlined in black)
4. If this bull flag plays out the natural extension of this takes us to ~$1.255 (black line extending from bull flag)
5. This coincides with a long-term resistance level (light grey line at around $1.27)
6. I expect the 5th wave to complete as an equal length to wave 1, which will see this go to $1.255.
So there are three confluence points -
1. overhead resistance at around ~$1.27,
2. bull flag breakout to take us into completion of Wave 5 on the longer term timeframe to ~$1.255
3. Often Wave 5 will equal the length of the first wave, if that is the case, it will coincide with above two price objectives ($1.25)
Beyond this point, I'd expect a cooling into a corrective Wave A, and then a strong Wave B to take us to the $1.40-$1.50 region (maybe around July).
It needs to honour the limits of the 4th wave now (dipping below $0.91 is a no go zone and hopefully the low on Friday saw the end of wave 4).
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Last
3.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $37.62M |
Open | High | Low | Value | Volume |
3.0¢ | 3.1¢ | 3.0¢ | $2.411K | 80.32K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 17583 | 3.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
3.1¢ | 2529 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 17583 | 0.030 |
4 | 600000 | 0.029 |
2 | 369059 | 0.028 |
1 | 30000 | 0.027 |
2 | 133000 | 0.026 |
Price($) | Vol. | No. |
---|---|---|
0.031 | 2529 | 1 |
0.032 | 57860 | 1 |
0.033 | 422781 | 2 |
0.034 | 530029 | 2 |
0.036 | 45400 | 1 |
Last trade - 11.05am 10/09/2024 (20 minute delay) ? |
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