ASM has only been listed for 2 years and after rising strongly it has fallen back to its underlying trend. Price has possibly also closed for 2 weeks above a technical downtrend although the placement of that line isn't exactly clear and the break (if there is one) hasn't been strong. However, with price having seemingly bounced of both a line of support (blue dashed line) and a level of support $6.95 there is a good chance price will start to move up again. My Elliott Wave numbers 1 to 4 may be just a wave of a cycle rather than the major cycle itself. It's hard to tell because of the short time the stock has been listed. Normally, I like to see 5 years history to conduct meaningful analysis.

ASM 11Mar22

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Robert Norman

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

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