I will frt around with Elliot wave theory too, JUST to see what it throws up at me. Many of these theories apparently carry no 'cred', however many too subscribe to them, so I like to try and put myself in other trader's minds eye, simply to get out of my own sense of warped reality.
The company fundies appear extremely favourable for the foreseeable future of X atm, even with weakness in the tin prices, however sentiment often gets in the way of a great story, hence me experimenting on price action behaviours. Using the latest pa surge, then the following retrace afterwards, helps me understand the current 'withcraft' we are currently enjoying! Hopefully too it might help me identifying other trades into the future.
Definitely a bit of algo trading going on currently too, as I have spent a few hours a day watching the shenanigans ensue.
Cheers.
MLX Price at posting:
49.5¢ Sentiment: Buy Disclosure: Held
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