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3.1¢ painchek ltd

pck chart, page-66

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the_contrarian

4,531 Posts.

297

10/08/18

14:38

Post #: 34860717
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Originally posted by the_contrarian ↑

Price broke down below the UT line in June and now it looks like the price is respecting the DT line. 50SMA crossed the 200SMA a couple weeks ago which is a bearish signal. I'd expect the price to drop down to where all the large volume came in a year ago, which is coincidentally where the first gap is at 3.5c. A lot of investors would be sitting on a 50% CGT discount around now and in the next few weeks so it would take some huge volume to push it back up, so one would hope they aren't taking the rest off the table. If the first gap doesn't hold then you can't exclude the lower gap at 2.7c.

View attachment 1206207

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Price touched the UT line at 5.7c which along with the 50SMA is providing resistance. It really looked a like a dead cat bounce and now is resuming downtrend. Price is going to get squeezed to the bottom of the darvas box. A break of 4.2/4.3 and we'll see this much lower. A massive change is FA may turn direction.

I can't upload a picture at work so will post one tomorrow.
https://www.investopedia.com/terms/d/deadcatbounce.asp

PCK Price at posting: 4.6¢ Sentiment: None Disclosure: Not Held
1 Upvote

0 Great analysis

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(20min delay)
Last 3.1¢		Change 0.000(0.00%)		Mkt cap ! $50.75M

Open	High	Low	Value	Volume
3.1¢	3.1¢	3.1¢	$252	8.144K

Buyers (Bids)

No.	Vol.	Price($)
1	6549	3.2¢

Sellers (Offers)

Price($)	Vol.	No.
3.3¢	20000	1

View Market Depth

No.	Vol.	Price($)
1	6549	0.032
3	345653	0.031
8	9796039	0.030
2	444000	0.029
2	380000	0.028

Price($)	Vol.	No.
0.033	20000	1
0.034	70943	1
0.036	200000	1
0.037	44589	1
0.038	125000	1

Last trade - 14.05pm 14/10/2024 (20 minute delay)

PCK (ASX) Chart