$JSEARI - African Rainbow Minerals: The Big Picture
This is the first time of ARM.
The big picture is one of very volatile swings in price as can be seen by the points and percentage changes in price when the stock is in bear mode.
2005 to 2008 was a great bull market where all one had to do was buy and hold.
2008 to 2016 was a big bear market that unfolded in a three wave zig zag pattern.
The advance from 2016 to the all time high in 2023 was very choppy and I am tentatively labelling it as a large leading diagonal for a higher degree wave {1}.
With this tentative outlook, I am labelling the sell-off from 31900 to 14662 as wave {2}.
The correction for wave {2} is the third largest in points and looking at the V-bottom reversals in history, 14662 could be a significant bottom.
This bullish outlook will be invalidated by a break below 14662.
ARM has diversified operations in Iron-Ore, Coal, Manganese and Platinum (PGMs) but the fundamental outlook is beyond the scope of this analysis.
The big picture is one of very volatile swings in price as can be seen by the points and percentage changes in price when the stock is in bear mode.
2005 to 2008 was a great bull market where all one had to do was buy and hold.
2008 to 2016 was a big bear market that unfolded in a three wave zig zag pattern.
The advance from 2016 to the all time high in 2023 was very choppy and I am tentatively labelling it as a large leading diagonal for a higher degree wave {1}.
With this tentative outlook, I am labelling the sell-off from 31900 to 14662 as wave {2}.
The correction for wave {2} is the third largest in points and looking at the V-bottom reversals in history, 14662 could be a significant bottom.
This bullish outlook will be invalidated by a break below 14662.
ARM has diversified operations in Iron-Ore, Coal, Manganese and Platinum (PGMs) but the fundamental outlook is beyond the scope of this analysis.
