Today's end of week close below 75c is a concern and may pressage further downside to retest the old former high of 54c - If so, my view is that 54c will hold although the share price weakness (in the event of no good news) could end up in the 60's or high 50's. On the other hand today's fall below 75c was on low volume - which is encouraging.
If 54c is breached there could be significant downside - but I think it should hold firm unless there is a big market correction.
The bottom line is that OCC is set for a significant move - it could break up or down as the triangular charting pattern suggests. Which way is the question. If only one had a crystal ball. I will stay on the sidelines until the pattern is confirmed. Good luck if you hold.
Some caution needed
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Last
39.5¢ |
Change
-0.005(1.25%) |
Mkt cap ! $82.68M | |||
| Open | High | Low | Value | Volume |
| 40.0¢ | 40.0¢ | 39.0¢ | $65.71K | 166.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1052 | 39.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.0¢ | 354895 | 8 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| OCC (ASX) Chart |