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42.5¢ metals x limited

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james70

361 Posts.

220

02/09/21

11:40

Post #: 55776929
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Originally posted by Bullyboy: ↑

Perhaps not:

Link: https://www.investopedia.com/terms/c/cupandhandle.asp
As a general rule, cupand handle patterns are bullish price formations. Founder of the term, WilliamO’Neil identified four primary stages of this technical trading pattern. First,approximately one to three months before the “cup” pattern begins, a securitywill reach a new high in an uptrend. Second, the security will retrace,dropping no more than 50% of the previous high creating a rounding bottom.Third, the security will rebound to its previous high, but subsequentlydecline, forming the “handle” part of the formation. Finally, the security breaksout again, surpassing its highs that are equal to the depth of the cup’s lowpoint.

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We are looking at a reversal pattern instead of a continuation pattern. Do you agree?

MLX Price at posting: 32.5¢ Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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(20min delay)
Last 42.5¢		Change 0.015(3.66%)		Mkt cap ! $385.1M

Open	High	Low	Value	Volume
41.5¢	43.5¢	41.0¢	$854.0K	2.012M

Buyers (Bids)

No.	Vol.	Price($)
4	355954	42.0¢

Sellers (Offers)

Price($)	Vol.	No.
42.5¢	36380	6

View Market Depth

No.	Vol.	Price($)
3	350002	0.420
4	85956	0.415
3	213869	0.410
5	92316	0.405
8	207453	0.400

Price($)	Vol.	No.
0.425	36380	6
0.430	69052	5
0.435	107966	5
0.440	296240	7
0.445	2561	1

Last trade - 16.10pm 17/09/2024 (20 minute delay)

MLX (ASX) Chart