Wednesday, October 04, 2017 3:44:43 PM
KLDX...a hyper rally in 2016.
I like Klondex too, might have been a good bargain at 2.80 but the resistance at the 50ma at 4 dollars looks worrisome to me. I see it getting hammered down soon. (4.00-4.50 area) down to 3.00-2.50 target zone.Of course I could be proven wrong when the time comes.
From the January 2016 Bottom, was a very good rally, but hyper overextended to 6 dollars ....way too high. the Fibonacci math target zone was more like 4.50-5.00. maybe 5.30 at most.
1.75 to 4.75. It is now trying to retest its true topping zone, and I see that as closer to 4.75/4.50, and might get struck down at the 50ma.
...and the Elliott pattern, this zig zag rally from 2.80 double bottom at 2.80, that looks like a wave 4, peaking at the 50ma, and Wave 5 would be down to retest 3.00-2.50 target zone to end the year at a low zone.
The large downwave that went from 5.91 to 2.88 was a "Wave 3" and the zig zag bounce since then, looks exactly like what a wave 4 would look like. It suggests a Wave 5 down would come next. as soon as resistance is ready to take it down again.
I like Klondex too, might have been a good bargain at 2.80 but the resistance at the 50ma at 4 dollars looks worrisome to me. I see it getting hammered down soon. (4.00-4.50 area) down to 3.00-2.50 target zone.Of course I could be proven wrong when the time comes.
From the January 2016 Bottom, was a very good rally, but hyper overextended to 6 dollars ....way too high. the Fibonacci math target zone was more like 4.50-5.00. maybe 5.30 at most.
1.75 to 4.75. It is now trying to retest its true topping zone, and I see that as closer to 4.75/4.50, and might get struck down at the 50ma.
...and the Elliott pattern, this zig zag rally from 2.80 double bottom at 2.80, that looks like a wave 4, peaking at the 50ma, and Wave 5 would be down to retest 3.00-2.50 target zone to end the year at a low zone.
The large downwave that went from 5.91 to 2.88 was a "Wave 3" and the zig zag bounce since then, looks exactly like what a wave 4 would look like. It suggests a Wave 5 down would come next. as soon as resistance is ready to take it down again.
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