AUZ 5.56% 1.0¢ australian mines limited

Back to 6.5c???

  1. 1,538 Posts.
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    Fibonacci Calculator
    H = 15.5c L = 1.7c


    Retracements

    0% (b) 15.5
    23.6% 12.2432
    38.2% 10.2284
    50% 8.6
    61.8% 6.9716
    76.4% 4.9568
    100% (a) 1.7

    From 1.7c jumps to 15.5c is TOO MUCH and TOO EARLY. Auz needs a deep retracement. My guess would be around 6.5c (between 61.8% and 76.4% retracement) to form a double bottom @6.5c (low) on 30 Oct 2017. Why? That day sp jumped from 6.5c to 9.2c before ASX question AUZ on 31 Nov 2017 regarding to why sp was up too much.

    After CR and all good news passed, I think sp will slowly drop to 6.5c. My guess only, can be wrong (I sold all @10.5c).

    GLTA and have a GOOD YEAR.
 
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