Wave count, page-5

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Rajenp5

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19

15/09/17

16:26

Post #: 27251394
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Originally posted by JUSTBOB ↑

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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Hi JB

So what do you make of the close today? Does the positive wave count still hold in your view?

SMN Price at posting: $1.55 Sentiment: Hold Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 38.0¢		Change -0.015(3.80%)		Mkt cap ! $51.98M

Open	High	Low	Value	Volume
39.5¢	39.5¢	38.0¢	$28.98K	74.36K

Buyers (Bids)

No.	Vol.	Price($)
2	24782	38.0¢

Sellers (Offers)

Price($)	Vol.	No.
39.0¢	764	1

View Market Depth

No.	Vol.	Price($)
2	24782	0.380
2	31000	0.375
1	22500	0.370
1	13698	0.365
1	13888	0.360

Price($)	Vol.	No.
0.390	764	1
0.395	2698	1
0.400	4367	1
0.415	52156	1
0.420	7356	3

Last trade - 16.10pm 25/06/2024 (20 minute delay)

SMN (ASX) Chart

Wave count, page-5

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Wave count, page-5

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