SMN structural monitoring systems plc

As always, there is always a possible negative & a possible...

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    As always, there is always a possible negative & a possible positive wave count.

    The possible negative count, which is highly unlikely but all the same positive in the long term is that we are in the C wave of 2 having $2.07 the top of wave 1 & $1.34 the A wave of 2 & $1.75 the top of the B wave of 2.

    The probable positive count is that wave 2 concluded at $1.34 & we are in wave 3. There are two possible counts within wave 3. The first being that $1.75 was the top of wave 1 of 3 & has a perfectly legitimate 5 wave count within that move. That means we are in a 2nd corrective wave of the move up in this third wave.

    Now the exciting possibility is that the 1st move up in this 3rd wave concluded at $1.72 & since then we have had a running correction, $1.72 to $1.54 ($0.18) wave A, $1.54 to $1.75 ($0.21) wave B & $1.75 to $1.57 ($0.18) wave C.
    You should note that waves A & C are of equal length with wave B ($1.75) breaking the top of wave 1 ($1.72). That constitutes a running correction. The strong buying orders on the market at the moment seems to indicate that the share price is unlikely to go below $1.57.

    A running correction is an indication of strength & a strong positive move should be anticipated.

    The current length of waves within wave 3 indicates that these current waves are part of the 1st of the 1st of the 3rd.

    The two positive wave counts indicate 3rd wave targets of $3.93 or $4.14.
 
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Last
41.5¢
Change
0.000(0.00%)
Mkt cap ! $64.07M
Open High Low Value Volume
0.0¢ 0.0¢ 0.0¢ $0 0

Buyers (Bids)

No. Vol. Price($)
1 2500 40.0¢
 

Sellers (Offers)

Price($) Vol. No.
40.5¢ 5000 1
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Last trade - 10.12am 02/07/2025 (20 minute delay) ?
SMN (ASX) Chart
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