Yeah, does not look like an entry point that is for sure.
It looks to have executed a text book elliot wave, and now approaching the C correction wave. Last two days has peaked at possible resistance point of 0.674. The 3 x candles with long upper wicks indicate reversal. Todays candle is a complete reversal indicator. 20EMA has crossed the 20SMA indicating downward turn.
Support should/could occur at 0.39, which is both peak of wave 3 and 62fib retrace for this 5 wave set. Could touch the 50SMA by then too.
The good news is that this 5 wave set, and ABC correction could be the start of an even bigger Elliot Wave.
Chart, page-417
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Last
2.8¢ |
Change
0.001(3.70%) |
Mkt cap ! $9.89M | |||
| Open | High | Low | Value | Volume |
| 2.7¢ | 2.8¢ | 2.7¢ | $22.35K | 817.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 182138 | 2.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 2.8¢ | 219384 | 2 |
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| Last trade - 16.10pm 05/06/2024 (20 minute delay) ? |
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Last
2.7¢ |
Change
0.001 ( 0.00 %) |
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| Open | High | Low | Volume | ||
| 2.7¢ | 2.7¢ | 2.7¢ | 4662 | ||
| Last updated 14.31pm 05/06/2024 ? | |||||
| ZNO (ASX) Chart |