ASX:AMI - Elliot Waves suggest slight downside pressure
Updated
Not a perfect Elliot Wave pattern, but it's pretty darn close.
Three clear peaks suggest the growth of a super cell. Final step to complete the third cycle will need prices to drop a little lower before continuing upwards.
This suggests a good time to enter.
Plus it's gold. If the equities market were to drop, then it's not a bad one to hold onto, despite the latest results.
Three clear peaks suggest the growth of a super cell. Final step to complete the third cycle will need prices to drop a little lower before continuing upwards.
This suggests a good time to enter.
Plus it's gold. If the equities market were to drop, then it's not a bad one to hold onto, despite the latest results.
Note
Next impulse seems to have started and was pretty close to expectations.
A good write-up on this as well on Livewire recently for those interested.
livewiremarkets.com/wires/the-next-northern-star
Note
Forgot to point out the crossover on the MACD, which is still in positive territory. The zero line has been acting as good support, so another reason to look favourably on this one.
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