When negative momentum takes hold ...How Far can a share drop...Well it tends to drop in eighths ie I/8 ,2/8 ,3/8 etc ( see Gann) .The adjustment we now have should stabilise at about 2/8 ie 1/4 from the high ..the high being $1.87 ...This would suggest..$1.87 less 47c $1.40 before the stock starts to rebound...Now with the value at $2.30 I would expect a good rebound once weak holders are gone..."interesting to note many of these momentum sellers become avid momentum buyers when the share price reverses." I also previously said that a share has three major legs and a correction at the end of each leg ..like a long distance runner stopping for a rest...I believe this is the first leg correction ...shares are moving from weak hands to stronger hands ..it means much higher prices will be ahead...patience is all that is required ..and on the rebound ..the fear of missing out then takes hold as prices rise...however the rebound is so quick that Fear quickly turns to Greed..they are after all two sides of the one coin!!!!!
CTT Price at posting:
$1.41 Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)