"We are right at the bottom of the channel here. Only way is up (logically) as there is no reason to break down."
I have to completely disagree with this comment. The overall trend of this stock, looking at the monthly down, is bearish. Trends continue more often than they don't so the greater probability is for the channel to fail. No news is a perfectly good reason as well for this stock to fail. All it would take is for a few fairly sizeable holders to capitulate on the story and start triggering stops below that channel and it will break quite easily.
The other things to note on the weekly is that each time the stock touched the bottom of the channel volume rose sharply and the stock bounced. The last 2 touches barely any of the same volume and now we are just sitting on the lower edge. I'm concerned with the current PA and telling people it can only logically go up from here is not anywhere close to the truth.
In saying that, trading is more an art than a science, it's not to say it wont rise but it's all about probabilities.
As always DYOR
4DS Chart for Long Term Holders, page-182
-
-
- There are more pages in this discussion • 1,410 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
AVH
Avita boosts skin restoration product portfolio with 'dermal matrix' – a kind of next-level gauze made of fake skin
TG1
TechGen Metals kicks off airborne geophys survey at Sally Downs copper play – a first for the permit
Add 4DS (ASX) to my watchlist
|
|||||
Last
7.5¢ |
Change
-0.003(3.85%) |
Mkt cap ! $134.0M |
Open | High | Low | Value | Volume |
7.8¢ | 7.8¢ | 7.5¢ | $403.5K | 5.327M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 20000 | 7.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
7.6¢ | 50000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 136757 | 0.074 |
6 | 238684 | 0.073 |
5 | 1144675 | 0.072 |
2 | 600000 | 0.071 |
8 | 1232856 | 0.070 |
Price($) | Vol. | No. |
---|---|---|
0.076 | 50000 | 1 |
0.077 | 100000 | 1 |
0.078 | 120000 | 1 |
0.079 | 80555 | 1 |
0.080 | 1700 | 1 |
Last trade - 11.24am 02/08/2024 (20 minute delay) ? |
Featured News
KAI
Pilbara Minerals buys land off Kairos part of its York gold project for $20M – and a 2% royalty on any PLS gold sales
MND
Albemarle lithium downsize burns $200M hole in Monadelphous's pocket as latter's contracts terminated
4DS (ASX) Chart |