Played weak in early trade, giving the impression of a dog stock falling again. But then something remarkable, it was clear bullish tendency on display as already set by last Fridays 9c rise.
I knew the fall back down did not make sense and was clearly impossible after Friday's move.
The key was 3 touches on $3.52 on the hourly chart as shown. Once it got that out of the way, it was back up.
If you do a Fibonacci retracement from last weeks $3.48 low to Friday's $3.60 high, you get fibonacci 0.618 = $3.53. And that is what happened today and yesterday, a pullback to Fib 0.618 area.
The two consecutive long leg tweezer candles of yesterday and today on the daily are also a good thing as shown.
It has now done two closes on $3.60 and $3.60 is acting as resistance. Only a matter of time now that it overcomes $3.60.
Looking good.
TLS chart, page-733
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Last
$3.81 |
Change
-0.015(0.39%) |
Mkt cap ! $44.02B | |||
| Open | High | Low | Value | Volume |
| $3.83 | $3.85 | $3.80 | $43.14M | 11.26M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 51 | 478296 | $3.80 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.81 | 1090806 | 58 |
View Market Depth
| Last trade - 14.12pm 12/07/2024 (20 minute delay) ? |
| TLS (ASX) Chart |