HMX - Charts, page-5

Hey malay
I agree. I've reposted my prevous chart. Sell side continues to evaporate.Morgan Stanley have bought $465K worth recently at 9c average.
Setting up for a run higher soon

My target for the next upleg is 15.5c, looking at the chart:

1. We have a Pennant Flag formation with a pole height of 7.4c (10.5 - 3.1)
2. Apex of pennant is @ 8c
3. This gives a target of 8c + 7.4c = 15.4c say 15.5c

Taking a different approach, using Fibonacci Extension Ratio of 1.618 and applying it to the run from March 2020 L to Jan 2021 H

1. We an Amplitude of 9.1c (0.10 - 0.009)
2. 9.1c x 1.618 = 14.7c
3. Adding this extension to the March 2020 L, we get 17.7c + 0.9c = 15.6c say 15.5c