to me it's definitely in a sideways band / trading channel, and we're currently in the middle of it. Generally speaking, stocks that do this for as long as DEG have often break out, quite dramatically, to the upside. I strongly believe it will happen here.
Since the initial discovery there has consistently been buying support and we are getting to the point end of it all now.
I recently wrote that the gold price has done a similar thing.
A recent example that comes to mind of a stock doing this is BOE. A long consolidation moving between $2 to $3 before a huge run. Granted that coincided with a move in the uranium price, but similarly gold is doing the same.
Chart - TA, page-3868
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Last
$1.23 |
Change
-0.005(0.41%) |
Mkt cap ! $2.935B | |||
| Open | High | Low | Value | Volume |
| $1.20 | $1.23 | $1.20 | $4.482M | 3.682M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8887 | $1.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.23 | 60293 | 3 |
View Market Depth
| Last trade - 16.10pm 02/08/2024 (20 minute delay) ? |
| DEG (ASX) Chart |