G’day guys, I’m no expert at TA but this is my view. Wave 3 if confirmed could put us over the 10c range and my initial target is 11.5c. The 50 and 200 day MA is bullish and the SP could show support from the 50 day MA.
The gap at 6c has been closed and the buyers are starting to show up again, this retrace was only on low volume, wave 2 had terrific support in terms of volume!
However if this wave 3 does not eventuate, we could see a retrace to the 61fib level of 4.7c which could be supported by the 200 day MA.
If anyone has a more experienced opinion I would love to hear it!
Add to My Watchlist
What is My Watchlist?
