We can observe trend reversal on Delcath.
We've had clear impulsive wave up in June 2017, since then we are in clear ABC correction.
Correction should end around 4-5cents and around end-of-September.
Following rise should be a huge impulsive wave C or wave 3 which will take us to $1-$1.3 level.
We've had clear impulsive wave up in June 2017, since then we are in clear ABC correction.
Correction should end around 4-5cents and around end-of-September.
Following rise should be a huge impulsive wave C or wave 3 which will take us to $1-$1.3 level.
Comment:
If we made a new bottom below 5 cents, my analysis would turn out to be incorrect.
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I think we are going to have another small dump to the 0.044 area. That would be the bottom.
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I would expect the bottom around 0.044USD sometime next week.
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It's still wave 5 of C, but could be longer than expected.
There is a strong support around 0.027-0.03 USD. I am not buying yet.
There is a strong support around 0.027-0.03 USD. I am not buying yet.
Comment:
Ok, where do we stand?
Everybody fears upcoming reverse stock split and dilution. Sentiment is extremely negative and there is a huge selling pressure.
Once we are done with the stock split thing there won't be any short-term negative news that influence the price. Also, there will be three types of people interested in the stock:
(1) Bagholders who came to terms with a loss and are not selling;
(2) Short-sellers who are holding short positions;
(3) People who are waiting on sidelines for a right moment to step up.
It is a perfect scenario for a huge short squeeze, isn't it?
Everybody fears upcoming reverse stock split and dilution. Sentiment is extremely negative and there is a huge selling pressure.
Once we are done with the stock split thing there won't be any short-term negative news that influence the price. Also, there will be three types of people interested in the stock:
(1) Bagholders who came to terms with a loss and are not selling;
(2) Short-sellers who are holding short positions;
(3) People who are waiting on sidelines for a right moment to step up.
It is a perfect scenario for a huge short squeeze, isn't it?
Comment:
If the price felt to 0.027-0.03USD, I would not be so sure of 1.3 USD price target. Nonetheless I would still expect a 20x price move which would take us to the new high probably around 0.7 USD.
1.3 USD target still stands, it is just less probable.
1.3 USD target still stands, it is just less probable.
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Target is 0.027. Nothing changes.
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Demand is showing up. Momentum and volume divergences. I expect one more bottom at 0.027-0.03. This is very likely to be the support.
Comment:
Going forward there are three options:
(1) We have made the bottom today.
(2) There will be one more bottom at 0.027USD very soon.
(3) My analysis is wrong.
(1) We have made the bottom today.
(2) There will be one more bottom at 0.027USD very soon.
(3) My analysis is wrong.
Comment:
Just have loaded up heavily. Very high probability that the bottom is in or around.
Market cap at this price is only $15mln.
Market cap at this price is only $15mln.
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I think the bottom is in. Now heading to ~0.65USD territory.
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The move up looks like a correction. I expect drop to 0.027USD.
From that point on the trend has been up.
Wave 1 is done and since the beginning of the last week we can observe consolidation in the wave 2.
I expect strong impulsive move up in October that will take us above 0.38USD and probably up to around 1.3-2.6USD.