$JSEAMS - Anglo Plat: Is A Bottom In At 58007 cps?
See link below for previous update.
This is a question I asked before when the stock caught a bid at 79400.
What has transpired since is that wave 5 of (C) unfolded as a more complex and deeper impulse which satisfies five waves down from 120747 to 58007.
Price seems to be forming a base above 58007 which is the invalidation level of the bullish outlook.
What is also encouraging is the MACD/price convergence between the wave 3 and wave 5 lows which is a bullish signal of waning selling momentum.
This is a question I asked before when the stock caught a bid at 79400.
What has transpired since is that wave 5 of (C) unfolded as a more complex and deeper impulse which satisfies five waves down from 120747 to 58007.
Price seems to be forming a base above 58007 which is the invalidation level of the bullish outlook.
What is also encouraging is the MACD/price convergence between the wave 3 and wave 5 lows which is a bullish signal of waning selling momentum.
