SMN 6.47% 65.0¢ structural monitoring systems plc

Support Levels, page-71

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    With $2.20 support eventually broken we should have further support at $2.14, $2.10 & $2.00.

    The $2.00 support would make the 5th wave of C, 59 cents which is 1 cent less than the 3rd wave of C ($2.80 -$2.20). This would leave 3 of C the longest of the 3 impulse waves which would be expected.

    This would mean the 3 impulse waves (1,3&5) would be 35c, 60c & 59c respectively.

    It is possible that $2.00 is the target but we may fail to get there.

    I previously could not identify a clear wave pattern but now it appears almost obvious.
 
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