Thanks Maxi for taking a look at this. If I can make a few comments in reply
Re your first comment noting the double bottom and with the peak between the lows being greater than a 50% retracement as a possible bullish sign. I have a few rules around double bottoms. One being that they only form at the bottom of the chart, i.e. after a long bearish trend down. Double tops form at the top of the chart. But I don't accept that double bottoms form at the top of the chart, after such as long run up, and so I therefore don't believe this can be treated as a valid double bottom. Just my perspective.
Your middle few lines of comment I think compares a line down through 2132 and 2102 and this intersects the horizontal line through the top of your "double bottom". But I couldn't quite pick up the inference you were drawing from this.
Your reference to the fib retracement of the last range is interesting. I hadn't noticed that. There is a horizontal support line across at 2022. This is also the 38.2% retrace of that last range. Last week's weekly bar closed right on it. That could have been a short term support point but I expect with the events of the weekend we'll punch right through that now.
Harmonics yes. 9 is a fascinating number.
regards.
- Forums
- ASX - By Stock
- The Big Boys
Thanks Maxi for taking a look at this. If I can make a few...
-
- There are more pages in this discussion • 643 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add XMD (ASX) to my watchlist
(20min delay)
|
|||||
Last
10,498 |
Change
75.900(0.73%) |
Mkt cap ! n/a |
Open | High | Low |
10,423 | 10,527 | 10,423 |
Featured News
XMD (ASX) Chart |
The Watchlist
ACW
ACTINOGEN MEDICAL LIMITED
Andy Udell, CCO
Andy Udell
CCO
SPONSORED BY The Market Online