I was waiting for today's open and behavior to form an opinion.
Opens same as yesterday's $2.81, that becomes the high and backs off it again.
The price has moved over that upper trend line now but not a green candle.
One would think it has topped and will fall down from here.
However, from what I am seeing in its behavior so far, it's being supported and a fall back down might not be happening..
What I think might be happening is providing it doesn't go below $2.75 and it doesn't break the 22EMA line (bottom chart), we are going to get a few days of horizontal action, where it trades in a range between $2.76-$2.81, before it resumes up along a smooth curve (as shown in bottom chart) reaching a target of $2.96-$2.98 (just falling short of $3.00). What happens after that is no guarantee, with possibility of a pull back as deep as $2.68.
This is my opinion based on the support and action I am seeing. But like I said, my projection is only providing price doesn't do a large body red candle tomorrow that falls under $2.75 and as long as price holds the 22EMA line (bottom chart).
Holding the 22 EMA line for a few days will be the hint that my scenario will pan out.
I will buy more after watching to see the price doesn't breach the 22 EMA line and buy on a day where it goes down to touch that line without breaching it. Around $2.76-$2.75 would be good.
My opinion. Not advice.
Good luck, go TLS.
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Last
$3.80 |
Change
-0.015(0.39%) |
Mkt cap ! $43.84B |
Open | High | Low | Value | Volume |
$3.79 | $3.81 | $3.77 | $15.91M | 4.196M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
40 | 232055 | $3.79 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$3.80 | 69494 | 22 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
57 | 279783 | 3.790 |
35 | 257828 | 3.780 |
42 | 253194 | 3.770 |
29 | 292463 | 3.760 |
63 | 313973 | 3.750 |
Price($) | Vol. | No. |
---|---|---|
3.800 | 106554 | 30 |
3.810 | 488367 | 39 |
3.820 | 173007 | 19 |
3.830 | 125803 | 12 |
3.840 | 160155 | 15 |
Last trade - 10.54am 06/08/2024 (20 minute delay) ? |
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TLS (ASX) Chart |