27-Nov-2023 : Keeping it Simple with Price Action & Technical Analysis.
The resilience of a stock is determined.. when the overall market tanks almost 1% as it happened today. In this down market, CU6 bucked the trend to close almost 4% up... and in the way.. almost completing the "Cup & Handle" pattern with probability of more upside and a fresh new uptrend in nascent stage.
When we go deep into the charts of CU6, we can see where that resilience comes from;
* CU6 floated in Aug'21 at an issue price of $ 1.26. It then went in a bear phase, that ended in Jul'2022
* Since Jul'22, the stock has been in a slow upward burn... as can be seen with the "GREEN" higher lows.
* The first leg of that upward journey seems to now have closed with the stock almost close to the issue price, and has completed a bullish Cup & Handle with the new upward move having started since start of Nov'2023. If this maintains its up move, the RED resistance zone would then become the new support.
27-Nov-2023 : Keeping it Simple with Price Action & Technical...
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Last
$4.26 |
Change
0.120(2.90%) |
Mkt cap ! $1.329B | |||
| Open | High | Low | Value | Volume |
| $4.16 | $4.33 | $4.12 | $3.727M | 878.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 743 | $4.26 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.27 | 1036 | 7 |
View Market Depth
| Last trade - 15.54pm 20/05/2024 (20 minute delay) ? |
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Last
$4.30 |
Change
0.120 ( 4.62 %) |
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| Open | High | Low | Volume | ||
| $4.18 | $4.33 | $4.14 | 67032 | ||
| Last updated 15.59pm 20/05/2024 ? | |||||
| CU6 (ASX) Chart |