The following chart is dedicated to @ashcourt104 and all the other anti charts people.My inspiration to post more charts.
The reason why I think that the share price is unlikely to go to 10c is because of the way the downtrend is.
In Elliott Wave a Wave 3 can never be the shortest wave.
The heights of the waves currently:
Wave 1: 47.5c to 26.5c : 21 c
Wave 3: 36.5c to 16.5c : 20c
Wave 5: 30c to 13c : 17c
We don't know for sure that Wave 5 has ended yet. If it did go to 10c, that would bring the wave 5 height to 20c which is the same height as Wave 3. Because Wave 5 can't be taller than Wave 3, ASN is unlikely to go under 10c. I also don't think the height of wave 5 will match wave 3 because wave 5 took so long to play out compared, it is a coil, and is therefore probably going to be shorter and a Fibonacci % of wave 3.
I'm predicting this region is the bottom.
ASN Chart, page-8628
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Last
11.0¢ |
Change
0.005(4.76%) |
Mkt cap ! $141.9M | |||
| Open | High | Low | Value | Volume |
| 10.5¢ | 11.0¢ | 10.0¢ | $84.14K | 786.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2 | 11.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 11.5¢ | 286817 | 6 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| ASN (ASX) Chart |