Australia's largest stock trading and investment forum Australia's #1 stock forum

SMN

Click for more information

1.30%

38.0¢ structural monitoring systems plc

Why wouldn't you use the swing high 30/1/20 @ 95 for the top of...

First 370 Last

Share
Profile

Follow
Patong1

4,104 Posts.

624

02/04/20

19:16

Post #: 43848287
Share

Originally posted by JUSTBOB: ↑

Do you know what a triangle formation looks like?

I am not expecting the share price to be anywhere near 78 or 23.5 cents.

It is likely each move would look something like being 61.8% of the previous move. That would tend to for a triangle.

In this case draw a trendline from the $1.12 top through the $0.78 top. That should give you the maximum expectation on the high side of the triangle. The bottom line of the triangle has not necessarily been finalised but in the short term draw a line from $0.235 through today's low of $0.39 & see if that line holds. I tend to believe that the bottom trendline is too steep & that a lower line will eventually be set.

This is only an indication of what you could reasonably expect to occur. As markets move you can re-assess your expectations if necessary.

Expand

Why wouldn't you use the swing high 30/1/20 @ 95 for the top of your triangle line as that was the last significant swing before the fall to begin your TL? Or begin at 1.12 connect .95 and not use 78 as its an outlier and doesn't show the trend as well?

SMN Price at posting: 47.5¢ Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

Reply

There are more pages in this discussion • 304 more messages in this thread...

First 370 Last

Add SMN (ASX) to my watchlist

(20min delay)
Last 38.0¢		Change -0.005(1.30%)		Mkt cap ! $51.98M

Open	High	Low	Value	Volume
38.0¢	38.0¢	38.0¢	$543	1.429K

Buyers (Bids)

No.	Vol.	Price($)
1	1420	36.5¢

Sellers (Offers)

Price($)	Vol.	No.
38.5¢	5500	2

View Market Depth

No.	Vol.	Price($)
1	1420	0.365
1	999	0.360
1	14084	0.355
2	2999	0.350
1	1470	0.345

Price($)	Vol.	No.
0.385	5500	2
0.395	58053	1
0.400	20000	1
0.410	20000	1
0.420	2500	1

Last trade - 10.09am 13/05/2024 (20 minute delay)

SMN (ASX) Chart

SPONSORED BY