Yes sure, could be that or a simple pennant. Generally I agree around descending pennants but I have in the past found they fail more on binary events, which I don't think Winsome has any that would cause a major surprise other than really the scoping study for Renard coming back unfavourable (which is a while away?).
So my read and what I am talking about @jaimore mentioned is that we are in a bit of a balance here. Here's the volume profile for this pattern on a 30min timeframe which shows the volume traded at different price points. Between those blue lines is where 70% of the volume has been trade here and general convention is; below bottom blue line = good value, look to buy below / above top blue line = less good value, look to sell or lighten load.
So when I see the reactive buying at these lows (volumes generally look better around the $1.22 - $1.25 mark) - it seems like someone or somebodies feel like this is good value down here. Hence why to me it looks like a rock solid support line for now.
I actually think they will run the lows soon and then bounce it from here, would watch around $1.18 or so for some heavy soaking before ripping it. But that's just my humble opinion...
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Last
50.0¢ |
Change
-0.020(3.85%) |
Mkt cap ! $108.1M |
Open | High | Low | Value | Volume |
52.0¢ | 52.0¢ | 49.0¢ | $269.9K | 536.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2119 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.0¢ | 3672 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2119 | 0.500 |
1 | 1400 | 0.495 |
2 | 15000 | 0.490 |
1 | 20000 | 0.485 |
2 | 110400 | 0.480 |
Price($) | Vol. | No. |
---|---|---|
0.510 | 3672 | 1 |
0.525 | 2000 | 1 |
0.540 | 9999 | 1 |
0.545 | 5200 | 1 |
0.555 | 9320 | 1 |
Last trade - 16.10pm 18/09/2024 (20 minute delay) ? |
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WR1 (ASX) Chart |