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63.0¢ australian strategic materials limited

Clearly you have a high regard based on skill for technicals ......

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3,002 Posts.

207

15/01/22

20:16

Post #: 58891535
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Originally posted by Eagleman79: ↑

See attached for longer term outlook. We are currently in wave 4, in a consolidation pattern known as an expanded flat (see previous post), but the question remains regarding where it will turn to start wave 5?

Wave 5 , according to Elliot wave theory, should extend well beyond what is shown on this chart, or will be at least the same length as wave 1.

In regards to my sentiment, I only trade technicals , the current TA shows a falling wedge heading towards support around $9, and then $8, both areas i will look to enter a long position, if the support doesn't hold, then ill sell. I currently have an average entry of $9.14

In regards to the question of shorts, $10 was the previous support area, which has now become resistance, this will be where traders will add to short positions as the price tries to climb up again, causing the price to push down again, if the move has inadequate buying pressure.

I hope this helps

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Clearly you have a high regard based on skill for technicals ... as would I if I could fully understand them

Many thanks for your explanations

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ASM Price at posting: $9.37 Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 63.0¢		Change 0.000(0.00%)		Mkt cap ! $114.1M

Open	High	Low	Value	Volume
62.0¢	64.5¢	56.0¢	$441.5K	740.9K

Buyers (Bids)

No.	Vol.	Price($)
1	1258	62.0¢

Sellers (Offers)

Price($)	Vol.	No.
63.0¢	26163	1

View Market Depth

No.	Vol.	Price($)
1	1258	0.620
2	5167	0.600
1	7256	0.595
1	9590	0.590
1	3000	0.585

Price($)	Vol.	No.
0.630	26163	1
0.640	1322	1
0.645	7591	1
0.650	4684	1
0.680	4300	1

Last trade - 16.10pm 31/07/2024 (20 minute delay)

ASM (ASX) Chart