Feature stock Dro technical
Have had this stock in the screens this week an made all four at once at one stage .
It currently sits in our game fisherman scan an our momentum scan only .
The gamefisherman scan usually holds a stock for about three four days where a pattern may occur while having a breather from trend .
The daily chart has a spinning top occurring in the candles stick by the looks of todays trading the confirmation is there for the short term .We had hopes for a little higher target .Following a price line cut of a twenty day linear was about suited for some nice trades back testing .
Weekly is a far more interesting chart for me .Particularly as mentioned in the tips of the Elliot waves .What had my thoughts this week is the twenty five day periods of the chart forming similar patterns to rising threes .Do the waves replicate into candle stick patterns ? Its possible when you go out from a shorter time frame like dailies etc etc .
Its a view i was somewhat attracted to as rising threes are somewhat rare pattern perhaps ? And are a continuation pattern. .During the week an I'm naming it a closing price breakout occurred where the weekly chart was showing a break yet the daily chart wasn't . Without cross contaminating the thoughts. Tmg has two rising threes on the weekly an you may see the intention of the market behind the pattern .Perhaps it is best suited to a weekly chart I'm nor sure .
Monthly chart .
Where i picked up for the target price being in the seventies .It could range here a bit an support looks best around 1.40 level if the gods take it downwards .
