I had another look at the 4DS chart and noticed a couple of other things. First, note that it is tracking the path drawn a couple of days ago. This looks to me to definitely be on the rise:
There is also a large declining wedge formed which is very near the breakout point (2/3rds along plus). The wedge has 3.3c height. When a declining wedge breaks the target is upwards and between 50% of the fall and 100% of the vertical height of the wedge both of which approximate 3.3c at my expected breakout in wave 5. The wave 3 break is unlikely to be sustained because of the W4 pull down. A wedge break is often back tested which would fit with the correction wave following wave 5. In any case the break out predicts a wave 5 target of about 7c if it breaks late Aug as predicted (much higher than the 4 - 4.5c predicted under EW rules earlier. That implies a 100% profit for an investment taken now, or later if w4 falls to the level predicted. Note that W4 usually retraces 38% of wave 3 BUT it can also do 14% and 23%, and much less often 50%. You can see this effect in the previous 5 step impulse wave where W4 declined significantly more than 50%. If more than 50% it has probably failed and W5 will not reach a target above W3. Under the circumstances of this wedge I would not be surprised to see the next W4 be shallower than predicted, possibly 23%. In any case the chart is suggesting a general rise from here over the next couple of months.
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Last
9.0¢ |
Change
-0.003(3.23%) |
Mkt cap ! $158.7M |
Open | High | Low | Value | Volume |
9.3¢ | 9.3¢ | 8.8¢ | $349.6K | 3.885M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 17501 | 8.9¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
9.0¢ | 147000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 13501 | 0.089 |
5 | 286575 | 0.088 |
6 | 247477 | 0.087 |
5 | 175213 | 0.086 |
9 | 466689 | 0.085 |
Price($) | Vol. | No. |
---|---|---|
0.090 | 147000 | 1 |
0.091 | 200000 | 1 |
0.092 | 500000 | 1 |
0.093 | 281179 | 4 |
0.094 | 30000 | 1 |
Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
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