1. Gap between 0.016 and 0.019 2. Gap fill & potential Head-Fake, Head-fake before run seem common of late with triangle setups 3. If break above 0.019 head-fake confirmed and descending triangle still in play, other supporting indicators will be increased volume and MACD Cross 4. If rejects 0.019, descending triangle fails and will continue down or sideways 5. Previous rise to Descending triangle 6. Projected rise if triangle plays out = 0.038 (1-5) Elliot wave, Wave 4 is in progress with wave 5 yet to be seen.
What's good? - A Class Management, 3x Directors moving from $0->500B start-ups into this ASX Micro-cap (Ex Google, Spotify, Youtube, Disney, Electronic Arts-EA Sports, Canva) - E-sports is a growing sector and only a small portion of gamers 'the elite' are currently monetized, this leaves a huge opening in the tournament space for intermediate gamers - Fully online tournament platform is already launched and operational with consistent growth in terms of games, sponsors and partnerships - Anticipation is building around Moguls release of a App and its entry into the Mobile gaming space - Just raised 8M in recent oversubscribed placement - New management have only been in place for ~3 months, their impact should start to materialise heading into 2021 - Strong potential for unexpected news as the industry is growing and evolving fast and investors are new to the sector -It's the unexpected announcements which move price hardest
What's not good? - Large amount of shares on issue - Still a few levels of resistance to break through into blue sky territory - High risk speculative stock which is by no means guaranteed - Need to manage risk appropriately