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Darkstone

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05/09/24

16:41

Post #: 75547081
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Originally posted by Darkstone: ↑

APX: Trading APX tomorrow might get tricky. I expect Ausiebulls will flag a BUY overrnight BUT it is now just over the target from the wedge breakout and it is roughly sitting at the resistance point of the corresponding support in the previous down run, so while it should get to circa 117 on the intraday breakout, it might struggle to get higher, and if it turns around now it should start wave 2 of an EW wave pattern which has a target of circa 95.6. Now we had no double bottom leading into this wave 1 so it may all be a false break yet. It needs to turn on the retrace at between the 61% and 78% fibs. Assuming it does all this I get the following predicted wave pattern (red rays are sell prices and green are buy prices): (Timing is not being modelled; only price targets.) Note the RSI also.

I should probably paste this into the APX thread as well..

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(APX)
Ah darn. There was a slight error on the wave 4 target in that chart. Fixed now in this - changes the wave 5 price and the wave 4 price. Sorry about that. Wave 5 is pretty much a guess anyway and assumes the height of wave 1, but could be something else entirely, and wave 3 is the minimum price it should reach for a wave 3, so can go higher. Once wave 3 is known for sure wave 4 can be predicted and wave 5 implied.
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