MAG 5.88% 4.8¢ magmatic resources limited

MAG Chart, page-307

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    lightbulb Created with Sketch. 496
    Thats it! If Elliot Wave theory proves at all correct then the 1.5 year long, 5 wave downward structure, should be over. Falling wedge now terminated with a small pop from below 9c back to 10c, with absolutely no news. Grinding sideways in anticipation of positive news to come, eventually, to likely catalyse an initial move to 12.5-14c where immediate resistance sits. Unless there is some left field, black swan news that PD has retired or Wellington has disappeared etc, then the TA of a volatile spec may somewhat resemble the green arrows below.

    All IMO, GL

    https://hotcopper.com.au/data/attachments/3702/3702863-6f33265a0734a9a51d67b27f48f6ccbc.jpg

 
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