Yesterday we got a strong rise in the last hour which gave us a close back above the 22 EMA by around 1c.
We also got a lift up off the 50 RSI level.
Volume was a very strong and respectable 48 mil.
It can all be a dud fake, if it wasn't for the strong volume.
Something interesting is going to happen.
In terms of Elliot wave, the waves are taking shape nicely, obeying all the rules, although wave 2 was quite a deep retracementof wave 1. The $3.41 high of August down to the December $2.71 low was wave 2 and since then, we may have commenced Elliot impulsive wave 3. If so, we could be in for a powerful move up to at least Fibonacci 1.618 which is $3.91 and can go even more.
That is also where the large gaps of August 2017 reside.
Firstly, we need $3.41 and we could be on the way to the $3.41 high of 23 August.
TLS chart, page-510
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Last
$3.92 |
Change
-0.030(0.76%) |
Mkt cap ! $46.33B | |||
| Open | High | Low | Value | Volume |
| $3.95 | $3.95 | $3.90 | $69.01M | 17.63M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 271136 | $3.91 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.92 | 282151 | 15 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| TLS (ASX) Chart |