This is a follow on from the first posted Idea "VSTM Could go down even more"
VSTM did get to $3.14 as a day low on Dec 21st just above the FIB ratio 0.786. However I do not like how it got there looking at the 1 year chart. As you can see the sub wave v of C has not started yet as sub wave iii was very deep. To complete the C wave, all sub wave must be completed before we can expect a new uptrend.I expect a bounce soon for sub wave iv then the final sub wave (v).
I would like for wave 5 to stay above $3.03 which is the 0.786 ratio, breaking that could set us lower to around $2.80.
Looking at the 1year and 5 Year , we are way oversold but wave 4 and 5 could begin a .
on my charting wave 1 was run up to 3.60 then wave 2 back down to ~3.30ish... Would you mind sharing your projection of the next 5 wave sequence?
Happy New Year!,
-F.t.M (aka scooby_snack)
I will continue to monitor and update the chart
BUT- when saying that, I have to keep in mind the severely oversold conditions of biotech sector.. then how is NBI going to affect trend?
I tend to put technical with fundamentals to do "full diagnostics" but of course that's relative term.
Question: After this recent small bounce we received Christmas eve (when markets were red) do you still have same opinion that VSTM will hit 2.85-3.00.. if so, how does the small bounce we got the 24th affect the ABC ??