A2M had a "breakout" this week and currently in "accumulation mode". Last week I said if A2M break the resistance of $12.11, it'll go for a run, ended up a very good run so far.
Since Monday, VWAP is $12.90 for the last 4 days and looks like strong resistance around $13.06. The daily chart looks "over bought" but we really have to take in account of what a fantastic half yearly result we had, so it doesn't look that "bad" really.
Volume have picked up slightly this week, last week we have an average 3.69M per day and so far average 4.37M per day for the last 4 days. Last Thursday we had a spike in Volume and SP jumped 4.7%.
With VWAP around $12.90 this week I would expect good support at high $12.70s/low $12.80s and resistance anything above $13. This is basically what tradings did in the last 4 days, and so far today as well. I did brought a parcel at $13 and averaged up, oh well, sometimes you just have to listen to your head and not your heart, hehe.
The question is when will SP break $13.06 and give the All Time High of $13.78 a good shot? Your guess is as good as mine, but by end of the month would be my timeline. Cheers all.
DYOR.
Frank.
Chart update, page-9493
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Last
$6.68 |
Change
-0.020(0.30%) |
Mkt cap ! $4.829B | |||
| Open | High | Low | Value | Volume |
| $6.70 | $6.71 | $6.61 | $6.477M | 971.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 12782 | $6.68 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.69 | 15324 | 5 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| A2M (ASX) Chart |