CMM 1.36% $5.95 capricorn metals ltd

CMM CHART, page-402

  1. 1,655 Posts.
    lightbulb Created with Sketch. 240
    Looks like I had some trouble adding $1.17 to $5.55 in my previous post.
    So the inverse head and shoulder target on the daily chart should be $6.72.
    I remain neutral as to whether we can get there this time, but if we do - it will happen most likely next week, with a small chance of the following week.
    Looking at the weekly chart it is possible to consider this a parabolic breakout rather than an ascending wedge at this point.
    Last week we opened with a gap up ($5.78-$5.80).
    If we are to remain in "parabolic breakout" then we will need to gap up on Monday to more than $6.25 and close the week above that.
    We would then require an open and remain above, the following week of over $6.73 to maintain a parabolic pattern.
    My guess is we make the $6.72 mark next week.
    Using the highest candles gives a different channel @goodoh
    This weekly chart uses the lowest candles to set the channel and results in us still trading within it, for now.

    https://hotcopper.com.au/data/attachments/6388/6388930-c0f197ef3c20aa57fb447b5cffa8ecc8.jpg

    https://hotcopper.com.au/data/attachments/6388/6388935-6b304ef16bc7dbf72b9bf3f9bb1e1e40.jpg





 
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