AMS

17.8%

3.7¢ atomos limited

We need above $1.05 for breakout from flag. I always expect a...

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SSA

707 Posts.

138

02/03/21

10:55

Post #: 51444908
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Originally posted by SSA: ↑

well it's below the 10 day MA, but there is a narrative in the chart.
1. We are in the 5th wave on a weekly/monthly timeframe (hard turquoise line)
2. Narrowing the timeframe shows that we are in wave 4 on a daily timeframe (light dashed turquoise line), within that 5th wave
3. within the 4th wave on the daily there is a bull flag (bullish formation that looks like a consolidation wedge outlined in black)
4. If this bull flag plays out the natural extension of this takes us to ~$1.255 (black line extending from bull flag)
5. This coincides with a long-term resistance level (light grey line at around $1.27)
6. I expect the 5th wave to complete as an equal length to wave 1, which will see this go to $1.255.

So there are three confluence points -
1. overhead resistance at around ~$1.27,
2. bull flag breakout to take us into completion of Wave 5 on the longer term timeframe to ~$1.255
3. Often Wave 5 will equal the length of the first wave, if that is the case, it will coincide with above two price objectives ($1.25)

Beyond this point, I'd expect a cooling into a corrective Wave A, and then a strong Wave B to take us to the $1.40-$1.50 region (maybe around July).

It needs to honour the limits of the 4th wave now (dipping below $0.91 is a no go zone and hopefully the low on Friday saw the end of wave 4).

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We need above $1.05 for breakout from flag. I always expect a retest of the breakout before lift off, if of course, the breakout is genuine. I prefer higher than average volumes on breakout

AMS Price at posting: $1.04 Sentiment: Hold Disclosure: Held
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0 Great analysis

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(20min delay)
Last 3.7¢		Change -0.008(17.8%)		Mkt cap ! $44.90M

Open	High	Low	Value	Volume
4.8¢	5.1¢	3.7¢	$305.6K	7.282M

Buyers (Bids)

No.	Vol.	Price($)
1	272643	3.7¢

Sellers (Offers)

Price($)	Vol.	No.
4.6¢	201641	2

View Market Depth

No.	Vol.	Price($)
1	272643	0.037
6	554535	0.036
6	372285	0.035
4	265606	0.033
2	178328	0.032

Price($)	Vol.	No.
0.046	201641	2
0.048	100000	1
0.050	170000	2
0.053	100000	1
0.056	45000	1

Last trade - 16.10pm 02/08/2024 (20 minute delay)

AMS (ASX) Chart

We need above $1.05 for breakout from flag. I always expect a...

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Sellers (Offers)

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We need above $1.05 for breakout from flag. I always expect a...

Top Stories

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Westgold sets its sights on top five producer status through merger with Karora

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

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Featured News

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Sellers (Offers)

Featured News