im expecting an explosive move here shortly from a technical pov,inside days lower volume(fair enough,xmas),indicating indecision..,hammer low on 11th,engulfing candle 2 days later and doji,then long white candle on the 24th all =bullish.decent support @2.25.in solid downtrend,possible bearish penant type pattern forming,short term resistance 2.50ish.=bearish.over all a reverse head and shoulders could be in the making with the neckline being around 331/3.38.
fundamentally at current price is around cash in bank, a decent find by the looks,initial 6/8k boepd,a free carry on the nws,results due for the 2nd dst and possible takeover target,the later two would probably be the catalyst for the explosive move,and for me I think north ,a quick run up to 3.30 to form the head.I have taken a initial @ position 2.30 with stop now at a close below 2.25 and will add to the position when a close above 2.5 is achieved
anticipation
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Last
$1.78 |
Change
-0.025(1.39%) |
Mkt cap ! $1.447B | |||
| Open | High | Low | Value | Volume |
| $1.79 | $1.81 | $1.77 | $1.770M | 987.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 55381 | $1.78 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.78 | 50095 | 23 |
View Market Depth
| Last trade - 12.57pm 20/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |