This stock has had a pretty strong history of repetitive behavior over the past 12 months or so.
An observation on the daily chart below shows the last 4 times the RSI has hit oversold territory it had stayed there for 2-3 weeks... this is quite an extended time but it has been consistently done over the past 6-9 months.
On each occasion the SP has risen around 30%, 45%, 50% and 100% (give or take).
If this repeats we may only be 2 days into an extended period of SP appreciation and still have somewhere between 20-50% in the move... Perhaps this gets to $30 sooner then we think...
Have to wonder what this move is all about, however if history is a guide then there is no reason to expect this to fall off anytime soon.
wa1 Chart, page-2261
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Last
$17.07 |
Change
-1.770(9.39%) |
Mkt cap ! $1.047B | |||
| Open | High | Low | Value | Volume |
| $17.30 | $17.41 | $16.65 | $15.15M | 888.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4941 | $17.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.15 | 31 | 1 |
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| Last trade - 16.10pm 11/07/2024 (20 minute delay) ? |
| WA1 (ASX) Chart |