Hi Thymus
It certainly looks and smells like a dead cat bounce. The SP fell 19 trading days straight. Some type of upwards correction was inevitable.
Nothing in charting is 100%. Its just which options are more likely and which are more unlikely.
In my opinion this is likely a dead cat bounce so therefore it is unlikely that the 3.01 low days ago will be the ultimate low for the coming months.
This bounce can possibly go on for many days yet.
You can tell that the cat was dead when the price goes under 3.00. If that happens the I think we will see quite a sharp movement downwards towards my initial target ranges of 2.81 and 2.68.
Just my opinion DYOR
cheers Lies
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Last
$3.23 |
Change
0.110(3.53%) |
Mkt cap ! $978.6M | |||
| Open | High | Low | Value | Volume |
| $3.16 | $3.25 | $3.14 | $4.288M | 1.334M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 7081 | $3.19 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.23 | 8306 | 1 |
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| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| NAN (ASX) Chart |