This would mean that the target for the larger degree wave 1 would be $1.31 plus $0.99 = $2.30
Then if you wanted to look further into the future & come up with a target for the entire 5 wave count you could use the same theory that wave 1 of the larger degree was to be 38.2% of the total then $1.31 x 2.618 = $3.43 + the starting point $0.99 the final 5 wave target price would be $4.42.
If SMN comes up with the much awaited signed contract I believe $4.42 to be rather conservative.
Looking even further ahead using the same theory we could have this 5 wave move to be wave 1 of the next larger degree, we could then expect a target of $9.97.
In round figures, a $10.00 target is not an unreasonable assumption.
This would mean that the target for the larger degree wave 1...
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Last
50.0¢ |
Change
0.015(3.09%) |
Mkt cap ! $73.48M | |||
| Open | High | Low | Value | Volume |
| 49.0¢ | 50.0¢ | 48.0¢ | $33.83K | 69.13K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1555 | 48.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 50.0¢ | 2480 | 1 |
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| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| SMN (ASX) Chart |