Chart Update - 3rd Sep24
According to the technical we could be in for a drop.
It will be interesting to see with how much vigor or if they can keep it propped up allowing the 1D and eventually the 3D charts to reset.
Chart update Fri26th July 24
Ooo Ooo Ooo look at this. Im loving the setup coming up (lets hope).
Look at all those ABC's down to get to that great support zone I mentioned a week or 2 ago. The next ABC (orange) has just started its C wave down. Its also in a decline wedge (a pattern known for preceding an impulsive move up) & has the ABCDE (3 wave move each wave) although I'm still trying to master this ABCDE pattern. Its will also hitting the 100sma on the daily & a fibonnaci Level of 76.4% retrace of W3 ( its a lot deeper than normal however we all epected that. I just like to see what I beleive is a bottom, happen on a Fibonacci level).
So there are loads of reasons for me to take a position some where after it leaves what I think is the bottom. If I was cautious I would wit for the 1st 1/2 up, however I'm also feeling that the 1st wave up might have some stregth behind it after the market was all on board recently. They will certainly still be waiting and seeing the same as I am.
The Play - So for that reason I might take a 2.5k - 5k token position see how that first 1/2 plays out. If its nice like I'm thinking then after the 1/2 Ill load up. The way I think is I determine the size of holding I dbe happy to end up with, Lets Say 100K -150K. So at the start I will layer in small positions as it proves itself, and then increase proportionally to maintain the 15% profit margin. Obviously the profit will get larger and larger as the overall amount increases till I hit my maximum spent amount of 100K-150K. This all needs to happen in first 3rd of what I work out to be its over all taget of its next large wave up (being W5). This should take quite some time as I have mentioned before, wave 4 down is usually a long one especially in the BIG wave 4 down. To climb to W5 without any Big news could take a long time if DRO keeps winning contracts @ 3-5 million at a time.
Please let me know how you think and would play this out (how you enter, size and techniques). Would love to hear how other think, for or against. Keep it nice though.
Chart Update 18th July 24
Sorry I know Dro has been a bit much on SM especially for those who weren’t part of it, however your opportunity may be on the horizon. See after such exuberance and the a super fast large fall, it tends to take some time for the market to level out at a value thats reasonable. What Im trying to say is that there can be an over reaction to the down side (as people bail out) after the over reaction to the upside. The charts have now given the next ABC down indicator while its still finishing of the original one. You can get overlapping ABC's down which just says "it aint finished yet baby". Not only only has it given the next ABC down set up, its also shown up on the K value of the stochastic indicator. Its way ahead of where it should be and needs to drop back to a reasonable level. To add onto those signals you can see there is good support down just below the aqua C @1.245. There is a support level (pink line),a Blue trend line & the Yellow trend line. For all of the above reasons I feel we will see $1.20 - $1.08 over the next week (maybe even sooner). So now all you fundamentalists can help me with what your thoughts are to: 1) what a fair value for DRO would be 2) Is 1.20 - 1.08 Cheaps. Im seriously considering loading up at those values. Keep in mind it may not bounce back so quick. It should zig zag sideways for quiet a whileas we are now in the W4. This wave is USUALLY slow and protracted.
Oh quick edit: those price points I mention are also in the 76.4% retrace zone (that horizontal white dashed line) of the large W3 we just had, so it will probably stop there also. Just adds another reason for the $ to stop falling.
Another chart update Wed 17th July 24
So you need to drill down to the 10min chart to see how the drop is forming, and now you can see the usual ABC with C wave being 5 waves down. That takes it real close to the Blue Trend line I mentioned yesterday and the 61.8% before fib before we will see it start a bounce of some sought (i believe ).
CHart Update thues 16th July 24
Ok well there it is, about time. I actually gave up posting about it. Now whats going to be interesting is how it now works with my Fib levels. So the rule here is what ever the wave before pushed higher by (wave 3 in this case) so to will the retrace wave (wave 4) lift by. Also another rule is wave 4 usually retaces by 38.2% of wave 3. Well Guess what, we are here. Oh no wait its on the move again as I write. I would like to see it hit that first blue Trend Line first ( so about 1.60) and then have a retrace back up for a bit. Lets see how it goes.
Chart Update Thurs 11th july 23
Ha well, even though DRO keeps on proving me wrong, I'm really enjoying tracking it. So as I mentioned many times, the charts have provided me with signals that the drop is imminent and then it just keeps on keeping on. Well It has now added 2 more signals to the stack that says it needs to drop like a No.2. I now have divergences on the daily and 3d charts. You can see the small target box I had recently. Thats where it should have stopped for a W3 @ the 161.8% Fib (instead it paused, so they thought about it) then it pushed to the next level up 176.4% and paused again before continuing. Now at the 200% which is usually a w5 level not w3. Will it stop here and act out the 2 divergences. As you also now know if it pushes up a level etc on a Target $ then the retracement that follows also lifts by the same amount of levels. That brings w4 down to the target shown by the big box.
Just another thought also, we have all seen good news released to the market for the share $ to fall instead. I believe thats because the $ had already been pump up in anticipation of the good news and then market realised it to be over price. We may see the same here (unless the news is a win on an extraordinarily large contract). This next retrace will certainly be interesting to watch
Fri 28th June Chart update
I have been holding off writing for DRO as it has proved my wrong a couple of times now. Tricky one. There have been many signals telling a story for a drop over the past couple of weeks however not enpough for me to post on. Today though im seeing some big signals for the drop. To prove me wrong, it would have to blast off again. Take it all with a grain of salt, but I think the drop has arrived.
Tues 18.06.2024
Up dated Technical Analysis. New price target 1.15. to 1.23
It bee some time since I have done any analysis on DRO as it blew past my targets and left me confussed as to what rules it was working within. Well turns out it is still working to the same rules I follow, just not applied to daily charts, weekly charts.
Keep in mind it could still climb to 1.64 as its still in the wave 3 zone, however all the indicators are pretty topped out and its due for another draw down into wave 4. At least thats what im going for hence posting it to keep myself accountable. Do as you please with this info. I myself am curious to see if im correct.
So Dro is still pushing ahead, which was contrary to my last update, however Im still seeing the setup for the decent pull back I was expecting. The signs are now even stronger, favourable to the down leg Im waiting on. I still hold my target zone below as shown where I have set an alert for me to revisit the technicals (on no positive news). 2 Items on the charts are swaying me to resist taking any position still.
1) The incline wedge it is working within. (look up incline wedge pattern for stocks)
2) The ongoing divergence on the rsi/stochastic indicator (Indicator dropping showing weakness while stock keeps rising)
I also noted an article on Market Index written by a Dr. David Allen from Plato Investment Management on insdier buying and selling showing that last big draw down had an element of DRO management selling. That $11.9m works out to be approx 2.5% of the total approx market cap. It is good to see the ivestors eating it up though with it rising back up (says they are very bullish on the stock). However even the DRO inside sellers thought it was a little too preemptive, hence there partial sell out.
Im also tracking AD8 & TPW waiting for there lows.
Good luck everyone
MMM so whats Drone Shield up to?
Well here's my charts and what I think will happen without any meaningful news. You probably read my last post on the FOMO effect for its last rise to the moon. Its certainly had the top chipped off and the way its shaping I believe its got further to go. My chart shows my plan however the stock is certainly a golden child ATM and as we all feel it probably has a good ways to go over the coming years so long as its run well.
So Im thinking I will run this one with alerts at my targets and if any news comes in Ill certainly be alerted when it pushes through one. I will update this one if anything needs to be revised
Good luck