M7T 4.05% 71.0¢ mach7 technologies limited

I’ve been watching M7T as a potential trade and thought I’d post...

  1. 306 Posts.
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    I’ve been watching M7T as a potential trade and thought I’d post an alternative view to some of the other technical analysis on this thread.
    Elliott Wave suggests M7T is on Wave 5 which is a strong rising wave. It looks like the stock has made a Wyckoff Pattern which (using Point & Figure charts) has a target of $1.27. A recent resistance break pattern suggests a target of $1.31 which I see as a natural resistance level (the red horizontal lines on the chart).
    For the Elliott Wave aficionados note how close the Wave 3 peak is to the Fibonacci 261.8% extension of Wave 1 – just where theory says it should be found.
    Price is in an uptrend making higher lows and highs which is also a positive.
    Anyway, I think M7T looks like a buy so perhaps I’ll take a position tomorrow.
    https://hotcopper.com.au/data/attachments/2412/2412747-1f539929d8e5ae30c31310fd8bd5b10b.jpg


 
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Last
71.0¢
Change
-0.030(4.05%)
Mkt cap ! $174.9M
Open High Low Value Volume
74.0¢ 74.0¢ 71.0¢ $52.70K 72.16K

Buyers (Bids)

No. Vol. Price($)
2 1590 71.0¢
 

Sellers (Offers)

Price($) Vol. No.
72.0¢ 742 1
View Market Depth
Last trade - 11.55am 26/04/2024 (20 minute delay) ?
Last
73.0¢
  Change
-0.030 ( 1.35 %)
Open High Low Volume
73.0¢ 73.0¢ 73.0¢ 5058
Last updated 12.15pm 26/04/2024 ?
M7T (ASX) Chart
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