DCTH trend reversal; target around $1.3; possible 20x+ rise
Updated
We can observe trend reversal on Delcath.
We've had clear impulsive wave up in June 2017, since then we are in clear ABC correction.
Correction should end around 4-5cents and around end-of-September.
Following rise should be a huge impulsive wave C or wave 3 which will take us to $1-$1.3 level.
We've had clear impulsive wave up in June 2017, since then we are in clear ABC correction.
Correction should end around 4-5cents and around end-of-September.
Following rise should be a huge impulsive wave C or wave 3 which will take us to $1-$1.3 level.
Comment
My best bet is that we have finished the wave C of the correction down on 25th September.From that point on the trend has been up.
Wave 1 is done and since the beginning of the last week we can observe consolidation in the wave 2.
I expect strong impulsive move up in October that will take us above 0.38USD and probably up to around 1.3-2.6USD.
Comment
If we made a new bottom below 5 cents, my analysis would turn out to be incorrect.Comment
I think we are going to have another small dump to the 0.044 area. That would be the bottom.Comment
I would expect the bottom around 0.044USD sometime next week.Comment
It's still wave 5 of C, but could be longer than expected.There is a strong support around 0.027-0.03 USD. I am not buying yet.
Comment
Ok, where do we stand?Everybody fears upcoming reverse stock split and dilution. Sentiment is extremely negative and there is a huge selling pressure.
Once we are done with the stock split thing there won't be any short-term negative news that influence the price. Also, there will be three types of people interested in the stock:
(1) Bagholders who came to terms with a loss and are not selling;
(2) Short-sellers who are holding short positions;
(3) People who are waiting on sidelines for a right moment to step up.
It is a perfect scenario for a huge short squeeze, isn't it?
Comment
If the price felt to 0.027-0.03USD, I would not be so sure of 1.3 USD price target. Nonetheless I would still expect a 20x price move which would take us to the new high probably around 0.7 USD.1.3 USD target still stands, it is just less probable.
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Target is 0.027. Nothing changes.Comment
Demand is showing up. Momentum and volume divergences. I expect one more bottom at 0.027-0.03. This is very likely to be the support.Comment
Going forward there are three options:(1) We have made the bottom today.
(2) There will be one more bottom at 0.027USD very soon.
(3) My analysis is wrong.
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Just have loaded up heavily. Very high probability that the bottom is in or around.Market cap at this price is only 15mln.
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I think the bottom is in. Now heading to ~0.65USD territory.Comment
The move up looks like a correction. I expect drop to 0.027USD.Disclaimer
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