From a technical perspective, we are witnessing a Bollinger Band Squeeze (BB%), which in layman terms means lack of volatility. Looking at the charts the BB% has fallen to its 6 months low, which is a really good sign, should the breakout happen on the upside. Certain buy orders were getting filled yesterday and the day before at 0.0035 which indicates the momentum is positive and hence the likelihood of the breakout happening on the upside is high.
Secondly, the 100DMA currently sits at 0.003c, and hence it is unlikely the SP would fall below this level considering the 100DMA is providing good support, IMO.
In my opinion, now would be a good time to buy prior to the breakout. Honestly speaking, 0.003c will be a distant memory soon.
Please do your own research, this is just my opinion not financial advise. GLTA
Ann: De Grey Identifies 50 kms of Under Explored Shear Zone-DEG.AX, page-29
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Last
$1.21 |
Change
0.055(4.76%) |
Mkt cap ! $2.899B | |||
| Open | High | Low | Value | Volume |
| $1.19 | $1.21 | $1.19 | $9.324M | 7.770M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 33645 | $1.21 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.21 | 12149 | 1 |
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| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| DEG (ASX) Chart |