WBT 3.98% $2.09 weebit nano ltd

Charts, page-238

  1. 1,416 Posts.
    lightbulb Created with Sketch. 4421
    https://hotcopper.com.au/data/attachments/2448/2448186-68ddad0add53cb007089c5191b06cba6.jpg
    Thought a comparison with hard charger BRN would be interesting as their 20X rally must look good on the chart right, well I have been doing comparisons of 10 -15 different trend change Golden Crosses(GC) and I for one think you could look at it 2 ways but with a circa $900mil MCap at the top I am going with the pessimistic rather than optimistic.
    This comparison is to give holders a better understanding of where WBT is in comparison to BRN with WBT's rally currently at 4X from bottom.
    There are some colourful vertical lines which need explanation for total understanding of location in the rally, you know the old "are we there yet" from the back of the car.
    Pink line - Price moves through 200 day Moving Average(MA) which is also a pink line. Green line - 50 day MA also a green linehttps://hotcopper.com.au/data/attachments/2448/2448125-0104d9823c0c8fedbd4859acc47dfaa1.jpg
    https://hotcopper.com.au/data/attachments/2448/2448129-01b2bec6715b329a1a211f4d2b70795d.jpg
    https://hotcopper.com.au/data/attachments/2448/2448138-5d32ff3cceff12793f6540b3a86a5ce2.jpg


    crosses above the 200 day MA which signifies a GC which does not need extra volume to happen but is far better when it does. Note the volume in WBT at the start of the rally.
    Thin Vert Black line - this is when the 21 Period Money Flow Indicator (MFI) moves above "0" signaling accumulation.
    Thick Black line - this is when the 100 period MFI moves above the "0" line usually after the 21 PMFI.

    Now as you can see the volume in BRN increased as the rally progressed as you would expect with record volume at the top last week, if that was the top. Now if you check the 21 period MFI it crossed to positive just after the green GC line but retreated below immediately and did not go positive till 3 weeks ago. After a 20X rally and record volume the 100 period MFI still could not breach the "0" line and has now started to turn down. In my interpretation someone is going to be left holding the bag.

    As you can see we have only just begun and our momentum and volume indicators are far superior(100 period MFI at +34%,WOW!) at this early stage than BRN had during the whole rally with regard to MFI's. At 20X WBT will be $4 and if my thoughts re the superior momentum characteristics displayed early on WBT should keep going and not stop at 20X. This looks to be the start of a multi month uptrend.
    Have a nice Sunday.
 
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Last
$2.09
Change
0.080(3.98%)
Mkt cap ! $394.8M
Open High Low Value Volume
$2.05 $2.14 $2.03 $973.0K 466.4K

Buyers (Bids)

No. Vol. Price($)
1 4253 $2.09
 

Sellers (Offers)

Price($) Vol. No.
$2.11 9706 1
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Last trade - 16.10pm 09/08/2024 (20 minute delay) ?
WBT (ASX) Chart
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