From a technical perspective, I don't disagree with this at all (although I would like to see a bit more ranging around the 27-28 cent level before the next leg up).
The greater problem with analysing GRR's price movements is that there is at least one event which could trump any technical analysis - an announcement of a JV/way forward on Southdown. While this is true to at least some extent with all listed companies, in the case of GRR it is a "known unknown" rather than an "unknown unknown". For my part, I would expect the announcement of a favourable announcement on Southdown to cause a large gap up from present levels.
I guess what I am inelegantly trying to say is that for this company I place greater reliance on (i) fundamentals and (ii) patience that I do on (iii) technical analysis.
Happy to hear views from people who are better at TA than me.
nice consolidation , page-2
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Last
23.0¢ |
Change
-0.005(2.13%) |
Mkt cap ! $266.1M | |||
| Open | High | Low | Value | Volume |
| 23.5¢ | 23.8¢ | 23.0¢ | $388.3K | 1.673M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 20 | 650756 | 23.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 23.5¢ | 105687 | 4 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| GRR (ASX) Chart |