Fib is 'Fibonacci Expansion Point'. The 100% expansion is calculated by measuring the height of the first spike (wave), which in this case went from 1.2c to 18.5c - so a 17.3c increase. Once it has retraced, which it did back to 6.5c, you add the 17.3c to the 6.5c to predict the range of the 2nd impulse (Elliot Wave 3). It's not a perfect science, but I have seen it play out very accurately in a couple of stocks recently. Check out the DRE chart, for example, where it went slightly beyond a 100% expansion before stopping. There are other guys around that know far more about this than me though. My interpretation is probably best described as 'Fib Expansion Lite'....
RNU chart, page-996
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Last
10.3¢ |
Change
0.003(2.50%) |
Mkt cap ! $260.4M | |||
| Open | High | Low | Value | Volume |
| 10.0¢ | 10.5¢ | 10.0¢ | $23.03K | 228.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 34 | 835618 | 10.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 10.5¢ | 1992918 | 43 |
View Market Depth
| Last trade - 12.35pm 02/05/2024 (20 minute delay) ? |
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Last
10.0¢ |
Change
0.003 ( 2.44 %) |
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| Open | High | Low | Volume | ||
| 10.0¢ | 10.3¢ | 10.0¢ | 469131 | ||
| Last updated 12.53pm 02/05/2024 ? | |||||
| RNU (ASX) Chart |