Note: This is not an investment advice but my opinion alone. Please feel free to comment.
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 RSI, we are way oversold but wave 4 and 5 could begin a RSI bullish divergence.
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 RSI, we are way oversold but wave 4 and 5 could begin a RSI bullish divergence.
