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
66.0¢ |
Change
0.010(1.54%) |
Mkt cap ! $159.2M | |||
| Open | High | Low | Value | Volume |
| 65.0¢ | 66.0¢ | 63.0¢ | $92.73K | 143.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 100645 | 62.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 66.0¢ | 2772 | 1 |
View Market Depth
| Last trade - 15.59pm 17/06/2024 (20 minute delay) ? |
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Last
66.0¢ |
Change
0.010 ( 1.54 %) |
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| Open | High | Low | Volume | ||
| 65.0¢ | 66.0¢ | 63.5¢ | 50026 | ||
| Last updated 15.59pm 17/06/2024 ? | |||||
| M7T (ASX) Chart |
