Hi Orwell, thanks for this. I've only just started looking into Elliot Waves, so I'm glad to see some attempts at practical application on a stock that I'm also quite interested in.
From my understanding, the retrace during wave A is typically as large as the retrace during wave C. Assuming we have pegged our start point for wave A at the Dec 1 high of 0.165 and the end point of wave A at the Dec 18 low of 0.057, the differential, or length of the wave, stands at 0.108. Given that the next retrace, or wave C, has a starting point of 0.115, would we expect to also see the price drop to 0.007 as the ultimate end point for wave C? Applying the end point of wave A at the Dec 18 high of 0.067 would see an ultimate end point for wave C at 0.017 - also less than savoury. Interested to hear your thoughts here.
Unrelated to the Elliot Wave principal and Fibonacci ratios, I see a mid-term support level at 0.061, where any breakout below may confirm your theory. Although, a breakout below from this support level is unlikely in my opinion unless there is a fairly negative change in the fundamentals.
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Last
4.1¢ |
Change
0.000(0.00%) |
Mkt cap ! $19.48M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 12780 | 4.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
4.3¢ | 1630000 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 12780 | 0.040 |
2 | 63888 | 0.039 |
4 | 245000 | 0.038 |
2 | 1275000 | 0.037 |
1 | 125000 | 0.036 |
Price($) | Vol. | No. |
---|---|---|
0.043 | 1630000 | 2 |
0.046 | 46559 | 2 |
0.047 | 72500 | 1 |
0.050 | 500 | 1 |
0.055 | 18199 | 1 |
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