SMN 0.88% 56.0¢ structural monitoring systems plc

Support Level

  1. 1,873 Posts.
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    There should be very strong support at $1.57.

    From the $2.40 high the price came down $0.58 to $1.82 in the A wave of the correction.

    The B wave rose from $0.33 to $2.15 & now the C wave has so far fallen to $1.64. If it falls to $1.57 the A wave & C waves would be of equal length.

    The last significant upward move was $1.35 from $1.05 to $2.40.
    A Fibonacci correction of 61.8% of $1.35 deducted from the $2.40 high also gives us the support at $1.57.

    Any chartist worth his salt should be able to come up with the above.

    It is not rocket science.
 
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Last trade - 15.48pm 24/07/2024 (20 minute delay) ?
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