The fact is the share price has gone nowhere. The price keeps on correcting & is not trending.
When the price is in a trending pattern E.W. becomes effective in being able to determine a wave count & potential correcting points. There are many traps along the way & it is the experience of the chartist to make sure he or she understands the alternatives & selects the most likely. There are points where taking the wrong option would break Elliott's rules.
One big trap is to assume you are finishing the third wave when it is only the end of the first of the third because the third wave is likely to be an extension wave.
SMN - Chart, page-887
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Last
60.5¢ |
Change
0.015(2.54%) |
Mkt cap ! $83.10M | |||
| Open | High | Low | Value | Volume |
| 59.0¢ | 60.5¢ | 59.0¢ | $3.309K | 5.581K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2499 | 59.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 61.0¢ | 5000 | 1 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| SMN (ASX) Chart |