Looks like I had some trouble adding $1.17 to $5.55 in my previous post.
So the inverse head and shoulder target on the daily chart should be $6.72.
I remain neutral as to whether we can get there this time, but if we do - it will happen most likely next week, with a small chance of the following week.
Looking at the weekly chart it is possible to consider this a parabolic breakout rather than an ascending wedge at this point.
Last week we opened with a gap up ($5.78-$5.80).
If we are to remain in "parabolic breakout" then we will need to gap up on Monday to more than $6.25 and close the week above that.
We would then require an open and remain above, the following week of over $6.73 to maintain a parabolic pattern.
My guess is we make the $6.72 mark next week.
Using the highest candles gives a different channel @goodoh
This weekly chart uses the lowest candles to set the channel and results in us still trading within it, for now.
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Last
$5.95 |
Change
0.080(1.36%) |
Mkt cap ! $2.246B |
Open | High | Low | Value | Volume |
$5.98 | $6.00 | $5.94 | $2.922M | 490.4K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2643 | $5.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.97 | 20093 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2643 | 5.950 |
1 | 105 | 5.940 |
1 | 5597 | 5.930 |
2 | 14230 | 5.920 |
3 | 19139 | 5.910 |
Price($) | Vol. | No. |
---|---|---|
5.970 | 20093 | 3 |
5.980 | 9198 | 2 |
5.990 | 4198 | 1 |
6.000 | 15469 | 6 |
6.010 | 14198 | 2 |
Last trade - 16.10pm 19/08/2024 (20 minute delay) ? |
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CMM (ASX) Chart |