The SMN share price has not reached the 10 May 2017 low of $0.95. The recent low of $0.97 has held & we are currently @ $0.99 having sneaked up to $1.015.
The sellers do not seem to want to push the price lower.
A somewhat rare occurrence in the wave count is an A, B. In other words, $0.95 to $2.07 (wave A), $2.07 to $0.97 (wave B). We could have completed the C of B.
When an A, B occurs it usually signals the end of a bear market. It is rare & I have experienced it previously. I went searching through the Elliott Wave Theory books to see if such a wave count was acceptable & there it was.
If we can hold around this level, even approximating $0.95, then the above wave count would be acceptable.
Is this a bottom I see before me?
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Last
57.5¢ |
Change
-0.005(0.86%) |
Mkt cap ! $79.66M | |||
| Open | High | Low | Value | Volume |
| 57.0¢ | 57.5¢ | 57.0¢ | $17.69K | 30.99K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1600 | 57.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 59.0¢ | 5000 | 1 |
View Market Depth
| Last trade - 11.53am 27/09/2024 (20 minute delay) ? |
| SMN (ASX) Chart |