I had another look at the 4DS chart and noticed a couple of other things. First, note that it is tracking the path drawn a couple of days ago. This looks to me to definitely be on the rise:
There is also a large declining wedge formed which is very near the breakout point (2/3rds along plus). The wedge has 3.3c height. When a declining wedge breaks the target is upwards and between 50% of the fall and 100% of the vertical height of the wedge both of which approximate 3.3c at my expected breakout in wave 5. The wave 3 break is unlikely to be sustained because of the W4 pull down. A wedge break is often back tested which would fit with the correction wave following wave 5. In any case the break out predicts a wave 5 target of about 7c if it breaks late Aug as predicted (much higher than the 4 - 4.5c predicted under EW rules earlier. That implies a 100% profit for an investment taken now, or later if w4 falls to the level predicted. Note that W4 usually retraces 38% of wave 3 BUT it can also do 14% and 23%, and much less often 50%. You can see this effect in the previous 5 step impulse wave where W4 declined significantly more than 50%. If more than 50% it has probably failed and W5 will not reach a target above W3. Under the circumstances of this wedge I would not be surprised to see the next W4 be shallower than predicted, possibly 23%. In any case the chart is suggesting a general rise from here over the next couple of months.
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Last
7.7¢ |
Change
0.001(1.32%) |
Mkt cap ! $135.7M |
Open | High | Low | Value | Volume |
7.8¢ | 8.0¢ | 7.7¢ | $145.6K | 1.841M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 74999 | 7.7¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.8¢ | 5980 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 24999 | 0.077 |
1 | 50000 | 0.076 |
7 | 995563 | 0.075 |
3 | 777877 | 0.074 |
4 | 827081 | 0.073 |
Price($) | Vol. | No. |
---|---|---|
0.078 | 5980 | 1 |
0.079 | 250000 | 1 |
0.080 | 278184 | 4 |
0.082 | 250000 | 2 |
0.083 | 816455 | 2 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
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