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58.5¢ structural monitoring systems plc

Support level, page-26

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Poseidon 1945

1,144 Posts.

148

10/10/18

19:23

Post #: 36073698
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Originally posted by JUSTBOB: ↑

Two calculations reveal the same support level.

1. It would appear that SMN price chart has completed a 5 wave move from $0.86 to $1.33. This should now be seen as wave 1 of a higher degree. We should expect wave 2 to be 61.8% of wave 1 ($0.47 x 0.618) = $0.29.
$1.33-$0.29 = $1.04.

2. Wave A of 2 ($1.33-1.18) = $0.15. Wave B ($1.18 - $1.28) $0.10. If wave C is, as expected, 1.618 x wave A ($0.15) = $0.24. Then wave B - wave C ($1.28 - $0.24 = $1.04.

Both calculations indicate that if the price approaches $1.04 then there should be some serious resistance from a technical point of view.

It is after wave 2 has been completed that the usually powerful wave 3 is expected. When you have a 61.8% correction in wave 2, wave 3 should be a minimum of 1.618 times wave 1. This would give us a minimum target for wave 3 of $1.80 based on a $1.04 low. The 3rd wave should be at least $0.76 at the very minimum.

If approval is granted shortly, it will fall in line with what is expected on the chart & the price will explode.

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Just checked FAA AD updates released Today could updates be on hold because NTSB investigation over engine problems on Boeing 757 hence SP is where it is it was a Delta plane?

SMN Price at posting: $1.06 Sentiment: Buy Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 58.5¢		Change 0.015(2.63%)		Mkt cap ! $80.35M

Open	High	Low	Value	Volume
56.0¢	58.5¢	56.0¢	$1.284K	2.268K

Buyers (Bids)

No.	Vol.	Price($)
1	1000	58.5¢

Sellers (Offers)

Price($)	Vol.	No.
61.0¢	1000	1

View Market Depth

No.	Vol.	Price($)
1	85	0.560
1	4518	0.550
1	12500	0.540
1	4644	0.535
4	20500	0.530

Price($)	Vol.	No.
0.610	1000	1
0.625	9109	1
0.630	6837	1
0.670	1500	1
0.690	6000	1

Last trade - 15.34pm 11/10/2024 (20 minute delay)

SMN (ASX) Chart