Chart Update 2nd Aug 24
If you look back at my last update, we were working on the yellow ABC count down which completed this morning. During that yellow ABC however, another one formed inside (Orange ABC). You will notice the ellipse target box just below which has many strong support levels. I can't tell you which one will be the bottom. I will wait to see the first impulsive waves 1/2 up before I consider entering
Chart Update Tues 30th July
So after todays info and the explosive move down for w(iii) (dropping harder than the norm for a w(iii) ) we should be seeing the next stop at 13.75 ish for w(v).
however now we are getting close to the main rising Yellow trend line & Supp level (pink horizontal line) below (as well as 2 x Blue Trend lines).
Zooming out on the 1d
What I thought might have been a w1 around June 24th has now been invalidated as we have taken that whole wave out. Also what I thought was the Super Cycle W2 now gets kicked further down the chart to the next major bottom to come.
There is loads of Supp down between the 12.54 - 13.03. When stocks drop close ish to good support they nearly always test it out. I will have to wait and see how it plays out over the next couple of weeks to see if its going to head down to those prices.
Also note the white Retracement levels on the left side of the secobd chart. It blasted below the 38.2% retrace of Supoer Cycle W1 over the last couple of days which opens the door to head to the 50% retracement level (circle on second chart) which aslo happens to be at those price levels with all that support.
Watch & Wait
Chart Update 25th July 24
Short term down leg on its way
Wed 24th July 24
Should be looking for a small w(ii) down while 1h stoch resets
Chart Update Fri 12th Jul
Today has given us clearer indication of a C wave Down
This has the potential to go either way at this point. It is setup to make both direction feasible. Its either going up to wave i or down for wave C. Long term it looks up obviously however 10min 30min 1hr chart look like they want to reset dropping it down for a C wave them it will have the strength to run up for wave i more convincingly.
Thurs 27 Jun Chart update
Fri 31.05.24
Still a bit more in the tank to give back. I am suspicious of there still being a little more to drop yet. What I'm really be looking for is the first waves 1&2 up to see how they form. This red bar this morning confirms the sentiment still hasnt turned positive enough yet for it to start its upward swing yet. There is definitely movement around this price point though as you can see by the Volume at this level. Note we are at the 38.2% level at $15.05. 50% retrace level of the stock since inception would be $12.45 ish
Im watching that tiny ABC down marked in Orange for now.
You will note the Pink horizontal support line @ $14.06 though. If it gets there I will probably start a position there.
Possible next price target down is $13.52 - $14.04
Also note this came in this morning on Trading View,
Well AD8 made my target, however I do feel there still could be another leg down. Thats purely because yesterday, Jefferies put a PT of $18 (that would take to a resistance level) and also the retrace from the top of major W1 hasn’t even reached 38.2% of W1. Ideally Id like to see it get down to 50% at least however its too early to look that far ahead. For reference, most W2 retraces drop to 61.8% of the prior major wave 1 up.
As you can see from my updated chart, I will be watching closely to see how the next wave up to that resistance takes shape. If it takes 3 waves up to it then I will be looking for a C wave down from that $18 level. I didnt take a position yesterday as I'd like to wait this out and see how it takes shape. Wave A-B will tell me more once it plays out. If your in then you may get 10% ish out of this leg up but watch for the resistance @ $18
Just had a chance to do my technical analyse of AD8. The chart below shows thoughts. without any extreme positive news. I will re evaluate the chart when it arrives there. The yelow line is the path I believe it will take roughly (may happen quicker or longer)
1d Chart
