I have been away on a holiday in the Hunter Valley for the past week & look what you guys have done with the share price.
From a charting point of view everything is still on track. As long as we do not fall below $1.56 there is little need for re-evaluating the wave count.
If the $1.76 bottom holds then I would be looking for the 3rd of the 3rd of the 3rd to take us to a minimum of $4.07.
If I am correct in my wave count since the $2.99 top, I have discovered something of interest.
According to Ralph Elliott, the 3rd wave cannot be the shortest of the 3 impulse waves, 1, 3 & 5.
Therefore consider this correction to be an expected A,B,C correction with 5 waves in C.
We have wave A $2.99 - $2.525, wave B $2.525 - $2.96.
Then we have wave C of which I shall only bother to show waves 1,3 & 5.
Wave 1 of C of 2 of 3 ($2.96 - $2.20 or 76 cents)
Wave 3 of C of 2 of 3 ($2.59 - $1.99 or 60 cents)
Wave 5 of C of 2 of 3 ($2.35 - $1.76 or 59 cents)
Notice how wave 5 did not exceed the length of wave 3 which would have made wave 3 the shortest yet Elliott says this should never happen.
If I am correct & Elliott was correct then $1.76 should be the bottom.
If this is not the case then it is back to the drawing board for re-evaluating the wave count. Elliott will not be wrong, it is only I who could be so.
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Last
57.0¢ |
Change
-0.010(1.72%) |
Mkt cap ! $78.29M |
Open | High | Low | Value | Volume |
58.0¢ | 58.0¢ | 53.5¢ | $41.53K | 76.04K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6267 | 57.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
63.0¢ | 6837 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 6267 | 0.570 |
2 | 14000 | 0.530 |
1 | 10000 | 0.525 |
2 | 26339 | 0.520 |
1 | 5000 | 0.500 |
Price($) | Vol. | No. |
---|---|---|
0.580 | 13500 | 1 |
0.630 | 6837 | 1 |
0.650 | 9109 | 1 |
0.690 | 6000 | 1 |
0.705 | 10000 | 1 |
Last trade - 15.54pm 03/10/2024 (20 minute delay) ? |
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