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Many thanks
@wyndrum - I still view the 210 low as the "E" of an ABCDE move as an Elliot wave 4. Since then we have seen three higher lows so I'm comfortable (at least for now) that we are starting a new ascending pattern. Of course a news rich environment makes all that irrelevant. To answer your question directly - I don't discount a move lower and I see just under 200p as support should it test lower my expectation however is that we will see the next significant moves as up testing resistance at about 240p, then 275p then 309p then 380p. And finally finding a top somewhere from 410p to 520p possibly even as high as 710p depending on the extent of the final move.
Ophidian
Ophidian, given we discussed the chart a week ago, have the intervening swings altered your forecast of 210p as a low?
It seems to be at the top of the resistance at 233p and so far does not want to go through it.
Any thoughts?
Wyn, ii has a bearish alert out today for AVCT with a trading range of 155-169p . Thoughts?
We need to have confirmation of a decent sales contract as many have said. I've no doubt we will deliver here and confident there will be news before the annual results. GL All!!
@wyndrum - I could never really pick 214p as support but the 38.3% Fib was at 209.2p on my chart so I can be happy with 210p bouncing off that Fib (Wave 4 completion). Looking for better days ahead now.
Ophidian
Good Morning Bought more today hopefully this time got the timing right think even our esteemed chartists are a bit flummoxed .
Paper profit obviously dented somewhat recently but stocks go up & down . Avacta market cap assets considerably undervalued in my opinion if you can be bothered waiting for the rebound well worth the wait for that rainy day pay out .
Good luck AVCT Shareholders .
ophidian,
Certainly from my paired down TA application on (small) stocks it looked as though 214p was always going to be tested when 233p went. As I said when we last spoke, I don't really see 214 as a support per se which makes me think a spike to to 200p or thereabouts may well come. (I have released funds for this if it happens, but in truth I hope its not required and you are right and we start to make gains from around this level. )
@wyndrum - by my grade one eyeball that completes the running flat abcde retrace.
Ophidian
@wyndrum - that by my grade one eyeball completes the abcde retrace.
Ophidian
As you say Wynd, ignore if you aren't interested, but, yes looks like 1.98 will be the range tested albeit we need a cash generator RNS in the next few days. I have a suspicion that tomorrow will see FOMO Friday return albeit 5 working days from the business update, next week could be a long week.
I for one will be watching in that update for any ambiguities from AS such as SHORTLY which could cause several to get SHIRTY and sell at that point.
Unfortunately the Trading range is now under pressure and in fact has been breeched as we speak but the day is not done yet obviously. It looks as though the big support of 198p (give or take) might be tested, at some time with a spike down to see who buys in. (i would have thought that a lot of money would come in at that level, but we shall see, and its just my "feeling" probably bias as that's what I would like.
It will on turn a sixpence if a revenue making RNS is dropped but right now its looking pretty friendless.