IZZ ... In an interesting position ATM after a very strong month out of a Double Bottom(DB) low. Question here right now, from a TA perspective, is whether it is to continue its rise or, at the very least, start a correction. Conflicting TA signals.
S/T, most oscillators seem to be screaming for a pullback of sorts being mostly in very overbought levels but also in their S/T patterns. Whereas, the volume action within the current Wedge like pattern, out of the DB, suggests there is more upside further out even if we see a short-term pullback 1st. Having said that, back in late Aug/early Sept last year we had a similar pattern with same characteristics but that proved bearish.
As I said, interesting position(times) ...
IZZ ... In an interesting position ATM after a very strong month...
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Last
3,011.6 |
Change
9.700(0.32%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 3,001.9 | 3,013.5 | 3,001.9 |
| XSO (ASX) Chart |