I'm saying that subwaves in the greater Wave 1 set the scene for the following greater waves. The whole of Wave 1 is like a preview.
So W1:s3 would indicate the way W3 carries out, not identically but in form.
We can see that W1:S3 had a long subwave 5 also known as an extended subwave 5. When there is an extended 5, we can take the length of 5 to be a 100% or 161.8%.
That means that Wave 3 could have an extended subwave 5 too.
This brings the target prices to the price targets I mentioned above.
The other thing is that Wave 3:subwave 3 has an ending candle with a long wick at the top, so if you excluded that from the fibonacci extensions to be conservative, the price targets would be;
100% extension: 55c
161.8% extension: 81c
ASN Chart, page-8662
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12.0¢ |
Change
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Mkt cap ! $154.8M | |||
| Open | High | Low | Value | Volume |
| 12.0¢ | 12.5¢ | 12.0¢ | $135.5K | 1.128M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 29833 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 152310 | 3 |
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| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| ASN (ASX) Chart |