I agree with your sentiment... the chart suggests the share price shouldn't have trouble hitting the $10 mark in the near future.
But Technical Analysis isn't the only reason why I suspect the share price has more life in it yet.
Back in February, the company were forecasting a crop of 13,400 tonnes and and almond price of $10.20 a kilo.
Their forecast for the almond price proved to be too conservative- it is now clear that they will get around $11.00/kilo.
So the question has to be asked: was the February crop forecast also too conservative?.
I think the answer is 'yes', and I'll explain why I think this may be the case shortly.
shv chart, page-4
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Last
$3.87 |
Change
0.050(1.31%) |
Mkt cap ! $468.4M | |||
| Open | High | Low | Value | Volume |
| $3.81 | $3.88 | $3.80 | $575.8K | 149.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1312 | $3.84 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.87 | 8830 | 1 |
View Market Depth
| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| SHV (ASX) Chart |