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31.7¢ danakali limited

DNK Chart, page-2

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Wild Cat

1,304 Posts.

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28/04/16

12:01

Post #: 17619223
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Originally posted by Owenb79 ↑

Hi guys, I DNK, "Do not know" anything about this stock. A quick look at ur chart, on the daily. Lets not look at the weekly. It looks like you are in wave 3 of a 5 wave Elliot wave. The completion of wave 5 should see the start of wave of 2 (22.5c) but I think you guys will be buying up before then so maybe the monthly pivot at 24c will pull-up a downward move.

It looks like the monthly R3 pivot (31.5) has capped the upside of this months move and resistance at 31 is now support, just. If 31 breaks you will see 28 very quickly and then a move up to 34c for wave 5 and then see more sellers.

If I use a daily trend line a retrace from wave 5 would find support at 24.5c so buying more at 25-24c is excellent value. If there is nothing fundamentally wrong. Retracements are a normal market function. The price needs to come down to find more buyers.

Good luck guys.

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Thanks Owen. So from your chart it looks like this can retrace as far down as 22c right? Can you see this head up to $1+ in the future?

DNK Price at posting: 29.5¢ Sentiment: Buy Disclosure: Held
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