I didn't get around to posting this screenshot a couple days ago, but not much has changed. SP dropped lower than anticipated and back into the bargain bin (below low AVWAP) due to the global markets having a hissy fit. Momentum has been lost and there's some clawing back to do.
Positives:
Found some support at the value area low (bright area of the profile) from the price action to the left.
Reclaimed the low AVWAP yesterday
Potential negatives:
Saw some rejection today at VN Low again
I've drawn in the scenarios I see at the moment.
Bearish would have us reject from where we are now. How strong this will be we'll find out soon.
I've noted on the bullish scenario that rejection we saw today too. We were bound to see some sort of rejection when coming back to the VN Low again. Price needs to get back into the node and over the two AVWAPs above to see a climb to the VN high.
RAC - Charts & Price Action, page-21940
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Last
$1.67 |
Change
-0.035(2.06%) |
Mkt cap ! $283.7M | |||
| Open | High | Low | Value | Volume |
| $1.70 | $1.70 | $1.66 | $66.07K | 39.44K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1720 | $1.67 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.68 | 402 | 3 |
View Market Depth
| Last trade - 14.50pm 17/09/2024 (20 minute delay) ? |
| RAC (ASX) Chart |