After a lengthy downtrend, this company is now a buy Short, Medium, and Long Term.
Wave 3 is just starting with a potential target of 16.2c and a final target of 24c.
I have had a couple of false starts with this Company, but I still think I'm on the right track. One thing Elliott wave is not good at is timing, although I find the targets usually eventually get hit. Bear in mind this is a medium term target so traders beware. Liquidity is medium/low and not a happy place for day traders!
Good luck and enjoy the ride!
SW1: Further drill down of Wave 2 (corrective wave) has positively identified a double zigzag (5-3-5) with an intermediate A-B-C wave. Not only has it reached the 76% retracement we are seeing positive divergence from both Stochastics and RSI. I believe wave 2 corrective has now completed, and wave 3 has started.
Wave 3 usually the largest wave of a typical 5 wave...
SW1 has spent a full year correcting a 5 wave upward move (larger wave 1) from 14c to 60c with a typical A-B-C Corrective pattern subdivided into a basic 5-3-5 move. Furthermore, the corrective larger wave 2 has retraced 76% of larger wave 1.
We are now poised to start larger wave 3. Wave 3 typically is the largest move in a normal 5 wave sequence and usually...
SW1 has spent a full year correcting a 5 wave upward move (larger wave 1) from 14c to 60c with a typical A-B-C Corrective pattern subdivided into a basic 5-3-5 move. Furthermore, the corrective larger wave 2 has retraced 76% of larger wave 1.
We are now poised to start larger wave 3. Wave 3 typically is the largest move in a normal 5 wave sequence and usually...
SW1.AX has completed its ABC consolidation. The 3rd big wave has begun from a low of 31c, and an expected target of between 1.61 and 2.61x the length of big wave one (18-60c) and which measured 42c. Therefore wave 3 target is expected to reach a minimum of 98c and a maximum of $1.42.
RSI is showing signs of bullish divergence and the share price has retraced...
