ASN 1.30% 7.8¢ anson resources limited

ASN Chart, page-7703

  1. 673 Posts.
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    Pretty much agree with your assessment Whilst the weekly chart (at the time of this posting) looks positive.  I am less convinced about the daily. If SP breaks through the bottom pennant support line is likely to looking for a potential retrace to firstly, the 8 ema and if this breaks, the 20 sma, currently at 22.25 which is close to the 61.8% fib (23.2) which is your support level.

      I would say if this occurs likely to hold as will unpinned by 50 sma.  Doji close on low volume today indicates, to me, market uncertainty (as am I) about direction, but not enough there for me to pull the trigger just yet.  Although may place a conditional buy order to cover upside breakout.

    Interestingly on 48 hour 20 minute chart SP closed below 20 minute 50ema. Albeit on decreasing volume and above the 20 minute 23.6 fib (27.4).  Portent of a direction change.
    Next few days will hopefully provide a clearer picture.

    20 minute chart
    View attachment 5029888
    This is certainly not advice, purely my opinion.
    GLTAH
    Charlie
 
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