SUMMARY
Two very long months ago, I had projected DNT to $0.323 target while price was $0.038. That target has obviously been exceeded. This has not reduced the bullish sentiment I have towards DNT. The below chart was used:
DistrictOx (DNT) could be complete with the handle formation of the Cup & Handle pattern. The a,b,c nater is quite apparent it likely coincides with wave 2 of Elliott Wave given the deep retrace. Recall that wave 2 need only not equal the start of wave 1 and so that means it could technically retrace 99% and still be valid. The two white parallel lines outline the handle formation and price has broken out of the top white line. This is bullish and an early sign of higher highs to come.
IF the breakout continues, the below chart shows the higher degree of trend wave with a target of $1.35 or higher.
Legal Disclaimer: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
Follow me on Twitter for Real Time Alerts!!
Follow me on StockTwits for UpDates!!
--
--
If this blog post has entertained or helped you to profit, please follow, upvote, resteem and/or consider buying me a beer:
BTC Wallet - 1HMFpq4tC7a2acpjD45hCT4WqPNHXcqpof
ETH Wallet - 0x1Ab87962dD59BBfFe33819772C950F0B38554030
LTC Wallet - LecCNCzkt4vjVq2i3bgYiebmr9GbYo6FQf
