No mate I use Elliot Wave to count the waves so it is planned.
The prevailing trend is down in five waves and the bounce from $5.60 is in three waves.ABC
The C wave is always five sub divisions and has a Fibonacci relationship to the A Wave.
Two weeks ago I posted it needed to get to $7 to accommodate the next wave down, so I was on alert and counted the waves with the last move up being a fifth wave.
The volume was subsiding in the fifth wave and the ATR was rapidly declining indicating a diminishing buying interest .
Its impossible to call the exact top but I knew it was very close.
The Trump news had not broken as it went slightly higher 7.04 before the sell off.
I suspect it will gap lower on Monday morning and fill the gap at $6 and I will count the waves then to see if we complete five down
i don't understand your reliance on the stock respecting the floor price of the Quadpay raise as FLX raised at 1.14 and went down to 96 cents .
Any way the raise after Quadpay was with a floor price of $1.84 so using your logic it is heading there.
Chart - Z1P, page-51
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Last
$2.55 |
Change
-0.070(2.67%) |
Mkt cap ! $3.329B | |||
| Open | High | Low | Value | Volume |
| $2.58 | $2.62 | $2.53 | $15.52M | 6.058M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 9615 | $2.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.56 | 58215 | 6 |
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| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |