I believe that we are entering in its Wave 5 and my target Price is set at much higher levels.
Above $16 I expect it to gain thrust.
What I like here are the following:
- It already gave 3 Waves and number 3 was quite impressive.
- Wave 4 ended exactly at the 2 lines that you can see on the chart.
These lines are my major levels for Positive or Negative behavior of a stock on a .
- Positive Volumes started to appear during the last days.
- The morphology of price movement after Wave 4 is solid for i and ii of 5 so I am waiting for a continuation now.
- I also liked what I read in several analysis for the company's projects (but this has nothing to do with ).
Note: I opened a position yesterday and will increase it above $16
As long as the price remains above $13.35 the projection mentioned
at my earlier analysis of today, remains intact.
If $13.35 is violated then the counting is cancelled and we have
a more complex pattern.
What is very important for the viability of Wave 5 up is the level in which we had Wave 4. We do not want that ZYME drops below $12.