LPD Chart & Analysis Thread, page-625

A couple of weeks ago I ended a late night post with "LPD's 1.8 cent raise is 60% of our trading channel's median price of 3 cents," comparing it to another company's recent institutional placement with the same percentage difference in share prices.

I awoke the next morning remembering Fibonacci ratios. Looking again at our pre-capital raise 3 month chart, 2.9 cents appears to have been our median price, rather than 3 cents.

Our capital raise price of 1.8 cents equates to the 61.8% Fibonacci retracement level from this 2.9 cent median. 1.618 is called the Golden Ratio and is the inverse of .618. In Fibonacci Sequence and Elliot Wave Theory, it is considered a point of potential trend reversal.

If the past fortnight of trading is anything to go by, our SPP price of $0.018 will remain the bottom of this channel and upon completion of our capital raise, we will trend up, leaving this level behind us, as we have the lows of our 4 year Inverse Head and Shoulders pattern.

Interestingly, the date our new shares and options will be trading, Monday 7 November, marks pretty much exactly a year we've been in a downtrend, from 9 November 2021. This brings me to a question for our chartists out there: from when Lepidico began life as a listed entity as PLP at the beginning of 2016, could we have completed 5 waves by 2019, ending with a truncated 5th wave?

A, B, C corrective waves would then have played out between April 2019 and EOFY 2021, where we commenced Wave 1 of a new cycle. Therefore, if our trend is reversing here, we are now beginning the typically longest and strongest of the waves, Wave 3.

Wave 3 is often an extension of Wave 1 by a ratio of 1.618, giving us a target of 8.6 cents from our November 2021 high of 5.3 cents. A share price of $0.085 equates to a market cap of a more respectable, but still low imo $600M, including SPP dilution.

Various websites this evening mention that 2.618 times the height of Wave 1 is also common for the third wave, or even 4.618 times. Wow. Wouldn't that be nice? Saving everyone the calculations, those extensions are 14 and 25 cents respectively. A 14 cent share price will still leave our market cap under $1B, at $960M.

I have no doubt we'll get there one day, but don't expect it to be in one go! After all our patience watching the lithium bull run of other companies, I reckon most shareholders would be plenty happy with a rise of 1.618 x to 8.6 cents. This would safely place us beyond our ATH, seeing all shareholders in the green, with blue sky ahead. That will be a jolly day.

Am hoping my novice Elliot Wave calculations aren't too far off the mark and look forward to feedback from our TA holders as to whether this is plausible or if something else is happening here. Thanks in advance.