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23.5¢ cynata therapeutics limited

Ann: Cynata Enters Development Partnership with RCSI, page-23

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17,666 Posts.

435

03/07/18

13:03

Post #: 34106169
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Originally posted by Sector ↑

some good commentary here: exactly what has gone on with CYP for 2.5 months now....

Symmetrical triangles (Bullish Pennant) can be characterized as areas of indecision. These triangles emerge as market pauses and the future direction is questioned. Typically, the forces of supply and demand are considered nearly equal at that moment. Attempts to push higher are quickly met by selling, while dips are seen as bargains.

Each new lower top and higher bottom becomes more shallow than the last, taking on the shape of a sideways triangle. (It is interesting to note that there is a tendency for volumes to diminish during this period.) Eventually, this indecision is met with resolve, which usually explodes out of this formation (often on heavy volumes.)

Research proves that symmetrical triangles overwhelmingly resolve themselves in the direction of the trend.

With this in mind, symmetrical triangles can prove to be immensely useful and should be traded as continuation patterns.

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What do you reckon the "breakout" surge could be once breakout given legs up in historical chart ?

CYP Price at posting: $1.39 Sentiment: None Disclosure: Held
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0 Great analysis

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(20min delay)
Last 23.5¢		Change 0.000(0.00%)		Mkt cap ! $42.45M

Open	High	Low	Value	Volume
24.0¢	24.0¢	22.5¢	$34.16K	148.0K

Buyers (Bids)

No.	Vol.	Price($)
1	9715	22.5¢

Sellers (Offers)

Price($)	Vol.	No.
23.5¢	49931	1

View Market Depth

No.	Vol.	Price($)
1	9715	0.225
3	33087	0.220
3	19130	0.215
6	52000	0.210
1	121951	0.205

Price($)	Vol.	No.
0.235	49931	1
0.250	110000	2
0.270	70000	1
0.275	30000	1
0.280	60983	2

Last trade - 16.10pm 15/10/2024 (20 minute delay)

CYP (ASX) Chart

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