chart weekly, page-27

Guys following my prev post above we've hit the 0.083 resistance level I posted and dropped back.

Have gone through to review the announcements since H22019 and it appears the company have tried to put a floor on the price at 0.05. But more importantly they have received alot of buy in from current directors and Gleneagle Securities (please review the announcements yourselves).

Have also made another point around timing of the recent purchases in light of Coronavirus in the other thread.

With this information I feel there is a basis for a break out in the stock. See below.

1) Multi-yr time frame with WXYZ(blue) on log scale. General rule for corrective patterns is you get a lot of price overlap with lows and highs which we have. Second rule is the price action will reclaim the majority of the price dop post the Z leg move which we also got in 2018.



2) The move in 2018 was clearly impulsive. What this generally means is the price lows and highs don't overlap (provided you know which waves belong in which phase) indicating it's on the upward move. But obviously with all impulses it also needs time to consolidate.



3)
Now here's the money!

We clearly have a channel that it's been respecting during it's 2nd corrective stage post the 2018 spike. You can see from here the spike we got last week was of significance as it went above the upper channel limit. What's more telling is it is now resting around the upper limit.



If the above turns out correct below is my PT.

The next move will be the strongest move (in the current context) as it will be a wave 3 move. Generally wave 3's are 1.618 of wave 1 which means we could be looking at 0.751!



WARNING!
At the end of the day this is still a specky stock and TA on specky's are not as reliable and above info should only be used as a guide if things start looking up. The invalidation point is if we see a break below 0.05.

Happy CNY.