GDR is getting emotional - hold and keep buying
Genedrive previous setup broke down from what it looked like a Y wave triangle, one of those lessons with triangles - it looks like a triangle, smells like a triangle, but it will probably end up being a flat or zig-zag. I think there are more legs in this move due to the volume, and volume means continuation towards that trend, whatever trend it is. I have a few possibilities here at the marked sub C wave. 4th and 5th wave of the C missing so 5th wave possibly truncates at 54p and forms a bottom - there is no notable bullish divergence yet in any of the indicators to mark the current 54p a bottom. The only reason I bought at 54p is that it was 61% extension of wave A and this clearly showed a sign of reaction here. In overall buying at 5x is a great R:R for the expected move up. Being ultra conservative is a 12:1 R:R with the worst case scenario considered the risk.
2nd option is moving down further in this zig-zag, C could even extend down to 1:1 of the A wave, bottom line is in the 3x area. Form a bullish divergence and turn from there.
This is still a big buy here, just look at the overall picture of the C wave to the upside that is inevitable. Also it might not go lower anymore as minimum requirements for an ABC correction are met - that would make the corrective count back to 3 waves WXY and this would also be valid. My only concern is the first corrective wave looks 5 waves A structure, so hard to force it into a 3 wave W structure.
You could not get wrong buying here. I revised the overall impulsive count from 5 waves to 3 waves for one simple reason, retraced too deep for a wave 2 correction also the time for impulsive 3 wave continuation has now passed. C wave will it be, with at least 1:1 extension to £3.5, or x1,6 to the £5s
Expect the unexpected and don`t get emotional with your investment. If you are aware of possibilities you will have the upper hand when it happens and you will not wet yourself.
fundamentals? - silence remain/ plain results from end June, no outlook provided - drop continues vs. approvals and orders named, numbers published - we move to the £s
IMO,DYOR
2nd option is moving down further in this zig-zag, C could even extend down to 1:1 of the A wave, bottom line is in the 3x area. Form a bullish divergence and turn from there.
This is still a big buy here, just look at the overall picture of the C wave to the upside that is inevitable. Also it might not go lower anymore as minimum requirements for an ABC correction are met - that would make the corrective count back to 3 waves WXY and this would also be valid. My only concern is the first corrective wave looks 5 waves A structure, so hard to force it into a 3 wave W structure.
You could not get wrong buying here. I revised the overall impulsive count from 5 waves to 3 waves for one simple reason, retraced too deep for a wave 2 correction also the time for impulsive 3 wave continuation has now passed. C wave will it be, with at least 1:1 extension to £3.5, or x1,6 to the £5s
Expect the unexpected and don`t get emotional with your investment. If you are aware of possibilities you will have the upper hand when it happens and you will not wet yourself.
fundamentals? - silence remain/ plain results from end June, no outlook provided - drop continues vs. approvals and orders named, numbers published - we move to the £s
IMO,DYOR
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