In this chart, I am zooming in for closer look at the chart over the last 26 months.
Jan 2021 was the peak of the first Major Wave 1 which ran from 2.5p to £1.825 & which consisted of a clear 1,2,3,4,5 pattern.
From Jan 2021 the Corrective Major Wave 2 then took hold and saw the price fall from £1.82 all the way back down to 62p on 13th October 2022 in a typical A,B,C Zig-Zag Correction.
Since that date, the price action has been very constructive and we have now seen an initial 1,2,3,4,5 advance (from 62p to £1.18) & then another A,B,C Zig-Zag correction from £1.18 back to 90p (50% Fib retracement).
Over the last month the next Motive Wave has got underway wit the price now having moved swiftly to £1.12 & has cleared (B) of the Corrective Wave 2 - first buy signal confirmed.
The longer term £3+ price target remains intact and near-term £1.75 looks highly likely as then Motive Wave gathers followers and steam.
Jan 2021 was the peak of the first Major Wave 1 which ran from 2.5p to £1.825 & which consisted of a clear 1,2,3,4,5 pattern.
From Jan 2021 the Corrective Major Wave 2 then took hold and saw the price fall from £1.82 all the way back down to 62p on 13th October 2022 in a typical A,B,C Zig-Zag Correction.
Since that date, the price action has been very constructive and we have now seen an initial 1,2,3,4,5 advance (from 62p to £1.18) & then another A,B,C Zig-Zag correction from £1.18 back to 90p (50% Fib retracement).
Over the last month the next Motive Wave has got underway wit the price now having moved swiftly to £1.12 & has cleared (B) of the Corrective Wave 2 - first buy signal confirmed.
The longer term £3+ price target remains intact and near-term £1.75 looks highly likely as then Motive Wave gathers followers and steam.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.