If SHMP can break to new highs, then I will be looking for a reaction at the yellow and blue horizontal lines.
My EW counts have the recent high as either the 3rd or 5th Wave.
Let's see how this plays out.
The yellow lines represent a .618 and .65 fib level.
The blue line is another fib level of interest.
If SHMP does not break to new highs then look below.
Natural Shrimp has had a good run for an OTC commodity but, all good things must come to an end. Although, I do believe this to only be temporary and we will see SHMP back in the fray soon enough.
It looks like we are coming into a corrective zone which may end up being the end of the line for SHMP. The first sign of selling pressure and this thing is going...
I have done no research on SHMP. Here is an Idea.
Let's see if SHMP can hit the Green box before pulling back to the current price evel region.
Original stop would be before the recent lows on the Daily.