The 200SMA has now converged alongside 50SMA within the below chart resulting in what is called a "golden cross" - I've been looking at the weekly chart trying to understand how this impacts us and have even asked in some prior posts. I think I've worked out the relevance and it could even be the reason why we're on such an uptick in terms of SP.
Indicated in green is the 200sma and pink the 50sma signaling the beginning of a rally - perhaps one like we've not seen before. This has only occurred in the last week and will continue to garner the attention of traders and investors alike.
I think this week we're going to see the volume of weeks past double if not triple taking us back to levels seen in july of 2019 or may and september of 2020.
Good luck all - see you at 0.50
Bot Chart, page-7609
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Last
37.5¢ |
Change
0.005(1.35%) |
Mkt cap ! $678.7M | |||
| Open | High | Low | Value | Volume |
| 37.5¢ | 38.5¢ | 37.5¢ | $1.701M | 4.493M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 523247 | 37.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 38.0¢ | 146093 | 2 |
View Market Depth
| Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
| BOT (ASX) Chart |