As per the analysis of 23 October (see below) the price of 4DS spiked during the following week and was sold for a profit. Stock subsequently rose well past the target

4DS 30Oct2020

23 October 2020

I generally don’t trade stocks with a value less than $0.10 because they can be volatile and hard to chart - but I might make an exception for 4DS. Apart from Covid knocking its price for a six in March, 4DS is in both a long-term and short-term uptrend. If price rises above $0.092 then we have a higher weekly trough followed by a higher peak (another technical buy signal). Elliott Wave is unclear. Price appears to have been trading in a large rising channel since 2015 and is coming off the bottom of said channel (hence higher probability of rising than falling). Price broke above a weekly downtrend line (a buy signal), hit resistance at $0.09 and fell back before starting what could be another attempt to break higher. Should price close above that resistance then I have a target of $0.105. Interestingly, there is a possible Wyckoff pattern in 4DS’ price action. This suggests generally higher lows and higher highs going forward and Wyckoff’s Point & Figure chart targeting predicts a general move up until $0.13 – coincidentally the stock’s previous All Time High. The vertical lines on the chart are time lines and while I don’t rely on time theory to trade, I find them an interesting input. 4DS seems to respond quite well to time lines and with the next line due around 15 December it may be something to watch.

4DS 23Oct2020

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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