Thought I would throw a couple of charts into this conversation.
Firstly, a three year chart on a weekly timeframe. The aspect that draws my attention is the massive MACD vs price divergence at the June 2022 and November 2023 lows - Nov 2023 was a lower low, but we saw a higher low on the MACD. This is usually a reversal signal. I also note that the current price is hard against the downtrend line since Nov 2021 - so is primed to break-out from this 2+ year downtrend.
Next on a daily chart, where you can clearly see how yesterday's close has this hard against the 2+ year downtrend - price action over the next week or so will be interesting. Should it break through, I think the first target would be seeking to close the gap that exists from November at the $0.54 to $0.58 level.
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Open | High | Low | Value | Volume |
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Buyers (Bids)
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1 | 10000 | 0.425 |
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4 | 86796 | 0.415 |
5 | 58858 | 0.410 |
Price($) | Vol. | No. |
---|---|---|
0.450 | 22738 | 2 |
0.460 | 10000 | 1 |
0.465 | 30975 | 3 |
0.470 | 82848 | 6 |
0.475 | 3000 | 1 |
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