Barkworth

Barkworth

B wave looks complete, C wave could start at any point. Alternative count suggests a very ugly complicated zigzag, but I'll believe that first when bulls break $4.90 from this level. Buy signal above $4.90, below that more consolidation ahead of us. I'm still waiting for that gap to close, but once this current zone breaks, I suspect we may see the lower $4 range...

Barkworth Updated 

If you want to play for a bounce, levels of confluence are where you scale in. The next level of confluence appears to be $8.75 (thank you, Cryptowaveman). The extremes of the falling wedge cross each other at around $8.50. The FIB 0.786 from the initial spike resides around $8.40, the 1.618 extension of waves 1-2 of the final C wave resides at $8.77. So the...

Barkworth Updated 

With the first signs of corrective waves appearing in on the hourly charts in the top formation, we can assume that the top is in. Significantly overvalued after this parabolic move. From my count, it was the minor wave (5) that extended. The retrace could take a long time, but there are many gaps to close. Of course, additional pumps are possible, but scaling...

Barkworth Updated 

Could go either way, but the current setup strikes me as corrective in a downtrend. Since the trend seems to be down still, lets expect a flat correction here, with $9.80 as resistance and the previous low as the wave B target. Double top for a wave C to complete wave 2, before continuing down for wave 3. So in summary, I'm still looking for a gap close at the...

Barkworth Updated 

Clearly, the magenta alternative from my previous idea, is the one that is in play. It didn't even bounce that high, which surprises me, as APHA really had decent earnings. Regardless, it looks like wave B is complete and we've started our descent into wave C. Theory says that wave C should be equal to wave A, and since we've gotten out of a Leading Diagonal,...

Barkworth

Earnings beat and a solid confirmation of successful integration of Origin House. Will we see a break out today? After all, these are not the kind of earnings to sell, if you ask me.

Barkworth Updated 

Nice bounce from trends line so far, but no follow through. It looks like our A wave is complete and we're headed into wave B. Possible FIB targets noted on chart. I bought at $4.43 right when it bounced from $4.38. There is still a gap to close, so I don't think a move higher would be bullish for now. The FIB target for wave C will be below $4 if we apply the A=C...

Barkworth

Currently at resistance. A bull break higher would certainly see me enter for a long position. Could see more downside, currently residing at FIB 0.5, so.... maybe.

Barkworth

An enormous volume shelf is keeping it from dropping below $10, but internals are looking weak. We're below the MA50 hourly, we're below the MA200 daily, which is going to pose significant resistance. We're also below the daily EMA26. The entire price action since August 3rd amount to two motive waves upward and one choppy wave down. They look like a textbook...

Barkworth

This is not a play, merely an investment. If you know about RTI, you'd be interested to know that they have started to generate revenue this year. Glued to $14 support, with the industry gathering momentum, I dare to invest here. I'm not expecting any explosive moves, but I believe in upside for this asset. ACB owns a large portion of RTI's shares.

Barkworth

Never quite recovered from the February sell off. Close to a double bottom, expecting some sort of bounce.

Barkworth Updated 

About to complete, be on the look out for a bounce. Potential bottom target anywhere between $10.90 and $10.35. Trend based FIB retracement based on waves 3 and 4 suggest a target of wave 5 of $10.50. I'm expecting to see some buying, with earnings coming early August. Longer term, this stock may recover to the $50 range.

Barkworth Updated 

It has been a long time since I was bullish ACB. I think we may be looking at a completed correction, and a leading diagonal for a motive wave 1. FIB says likely this will end at $13.20 resistance, after which we would be looking for a wave 2 correction down. Lots of time to assess, I would say, but if this plays out, we will soon be buying into wave 3 for a...

Barkworth

Correction for wave ii will form the handle. I'll be trying to accumulate at $4.50 and $4.35. If this should fall below $3.96, I will have to find an exit.

Barkworth

My favoured count suggests a final 5 wave move down to the first weekly higher low. This expectation is based on the zig zag from this year's lows, as it is a textbook ABC, where C=A. Regardless, it is possible that that ABC was a minute wave 1, and we could have completed minute wave 2. What we COULD be seeing here, is the start of minute wave 3 up. We have to...

Barkworth Updated 

B waves are phonies. They are sucker plays, bull traps, speculators' paradise, orgies of odd-lotter mentality or expressions of dumb institutional complacancy, or both. They often involve a narrow list of stocks, are unconfirmed by other averages, are rarely technically strong, and are virtually always doomed to complete retracement by wave C. If the analyst can...

Barkworth Updated 

Tech will lead the drop. Quick squirt up today, then down? Slowly, fast, no idea... but I'm looking for about 10% or so, maybe to the Feb'20 highs...

Barkworth

Breaking above $5.20 would render this count useless. So far, it looks like wave 2 is complete. I'm buying the dip, if any dip. What are your plans?