BOT 7.46% 36.0¢ botanix pharmaceuticals ltd

Bot Chart, page-9829

  1. 5,148 Posts.
    lightbulb Created with Sketch. 890
    Pretty good news that BOT has already sourced a UScript provider, showing lots of confidence.

    Charting as said a few times, is pretty interesting at the moment, there's lots of trip wires about and lots of news to be looking forward to in the near future.

    Here's how I read the current chart pattern.

    There's four main trip wires that seem to be in play at the moment;
    1. Green - The current one IMO, which is showing support 12c and 12.5c. If BOT can break through the resistance red line, then we've broken current resistance and heading for a new high.
    https://hotcopper.com.au/data/attachments/5678/5678301-715a63e50caf0792adf62a07315d9798.jpg
    2. BLUE: The next line down is only a stepping stone away in price, around 11.5 support. Once again if it stays on the current trend and we can break through the red resistance line, then support will have been broken again.
    https://hotcopper.com.au/data/attachments/5678/5678317-34ab27e98ac18bad0e1e9e178e6d1772.jpg

    3. YELLOW, that shows support around 10.5c.
    4. RED, the bottom one shows support at 8.5c

    You could probably tweak the lines a bit, but overall it would be pretty close/similar to below.

    So fingers crossed that either the green or blue support lines hold, and we're off again to another new high. If it gets to amber or the stop sign (yellow and red) then they're stong indicators to buy more if you've got the coin.

    https://hotcopper.com.au/data/attachments/5678/5678290-eaf1747ec248a452c8fe08ea6994060a.jpg
    Last edited by aaragon: 24/10/23
 
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