Hi SimonGr......recognising repeating patterns/trends play a significant role in TA interpretation.
Below is the UP TREND chart starting from 06/17 and you will note the horizontal lines (orange) where the breakouts occurred are evenly spaced.
However, (current) resistance @ 56c. is related to the prior DOWN TREND ........and a close above this level will be of some significance.
I anticipate that event will occur today, a CLOSING price ABOVE 56c.
I am also a great believer in 'mean reversion'...or 'reversion to the mean'.
Cheers.
Close to breakout, page-5
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Last
59.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $142.3M | |||
| Open | High | Low | Value | Volume |
| 59.5¢ | 60.5¢ | 57.5¢ | $635.1K | 1.061M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5536 | 59.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 60.0¢ | 163264 | 3 |
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| Last trade - 15.48pm 17/07/2024 (20 minute delay) ? |
| M7T (ASX) Chart |