AMYRIS is holding the 3.3 level nicely. I expect a rally now in the AMYRIS. Here is a rough prediction of Elliot impulsive wave rally of this stock. Time scale might be longer or shorter but this pattern must show up.
Operación activa
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Level 1 in Elliot wave has reached. Rally did not seem to stop. Still has the potential to rally further.
Since it breached #2, will it see .236 range again?
vrambati
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@HHSPN, No! It is close to over sold region. I expect it to go high atleast 4.00$ (above 0.5 level). In my prediction, Elliot 1, 2 and 3 can be seen but 4 and 5 never happened. Instead it did a big correction. Now I expect a rally again.
HHSPN
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@vrambati, Sorry to bother you again... Any technical damage to stock since you last reviewed? Will it see one step below in the range (.236 pr below) before it goes > .5?
vrambati
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@HHSPN, Yes! Now all indicators point to that level. It is highly probable that it will touch 0.236 level. I looked at both PIVOT POINTS and Elliot wave cycle. It has strong support at 2.71 and it is still in a Elliot correction wave cycle.
HHSPN
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@vrambati, Wow, hit .236 level at $2.78. Hope 2.71 holds.
vrambati
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@HHSPN, It is holding 2.71 level. Lets see how long it takes to rebounce.
HHSPN
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@vrambati, Yes. I go some at 2.80. If it breaches 2.70 what is the next support level on downside? Thanks.
vrambati
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@HHSPN, I am afraid that it would be 1.88. In principle, it should form a new support level somewhere between 2.7 and 1.88.