I have a few possibilities now for #GDR, I know it looks great, up down or sideways. But really these are now roughly the options with the clearly communicated uncertainty and market reaction.
First of all the original count and targets are still intact, in green, we are in a C wave or next impulse W3, and we have done a wave 1 and 2, still up we go from here. We need volume and clear impulse to move and prove this is the case in the next days/weeks ahead. This plan can alter depending on the intensity of the impulses, can truncate to an ending diagonal C wave with lower 5th wave targets, probably at the £3 mark at the end, or can extend as a higher high W3 into much higher W5 target than currently pictured. All depends on newsflow.
The next two blue and orange options are based on the count that we have a failed impulse X wave instead of a wave 1 of the C. Hence the gap in price overreaction and massive sell out that is remarkable in volume. Any trader would sell off at the next possible gap approach if they had no SL in place and were not part of that sucker -50% SL fill. So following the X wave we do a Y in some kind of a triangle (blue) which shows quite a bullish response for the short term (another hype of expectations?). The orange squiggle is a possibility on a short term bad news (further delay or funding needs) to put a lower low and fill in that lower demand zone under 30p before turning into the upside.
Not hard to imagine fundamentals supporting any of these setups and also that all these interim plays the SP could be going towards the previous or a new high when the dust settles. I still support long term holding if you can achieve a healthy average level.
The blue squiggle is my favourite, although purely the volume pattern suggests the orange to play out - Now one thing about volume, is that when PIs pump up something based on rumours and hype without any substance, and with the level of PI allocation to this stock, there is no surprise it will fall big volume on unexperienced PI fear. The lack of II support on the SP volume is remarkable, therefore you cant really apply those volume triggers as you would normally do seeking for II activity. CEO comments were spot on to that. Leave the hype of expectations to the company based on their substantial news.
imo of course and dyor
First of all the original count and targets are still intact, in green, we are in a C wave or next impulse W3, and we have done a wave 1 and 2, still up we go from here. We need volume and clear impulse to move and prove this is the case in the next days/weeks ahead. This plan can alter depending on the intensity of the impulses, can truncate to an ending diagonal C wave with lower 5th wave targets, probably at the £3 mark at the end, or can extend as a higher high W3 into much higher W5 target than currently pictured. All depends on newsflow.
The next two blue and orange options are based on the count that we have a failed impulse X wave instead of a wave 1 of the C. Hence the gap in price overreaction and massive sell out that is remarkable in volume. Any trader would sell off at the next possible gap approach if they had no SL in place and were not part of that sucker -50% SL fill. So following the X wave we do a Y in some kind of a triangle (blue) which shows quite a bullish response for the short term (another hype of expectations?). The orange squiggle is a possibility on a short term bad news (further delay or funding needs) to put a lower low and fill in that lower demand zone under 30p before turning into the upside.
Not hard to imagine fundamentals supporting any of these setups and also that all these interim plays the SP could be going towards the previous or a new high when the dust settles. I still support long term holding if you can achieve a healthy average level.
The blue squiggle is my favourite, although purely the volume pattern suggests the orange to play out - Now one thing about volume, is that when PIs pump up something based on rumours and hype without any substance, and with the level of PI allocation to this stock, there is no surprise it will fall big volume on unexperienced PI fear. The lack of II support on the SP volume is remarkable, therefore you cant really apply those volume triggers as you would normally do seeking for II activity. CEO comments were spot on to that. Leave the hype of expectations to the company based on their substantial news.
imo of course and dyor
