My points to note on the A2M chart.
- 50mda (red line) has been resistance since August.
- 21mda (blue line) is below the 50mda = downtrend (sell rallies)
- Wait for 21 to cross 50 to confirm new uptrend (buy dips)
First target = 7.63 gap
Second longer term target = previous high (Circa 8.30 - 8.40). This is where i'll hopefully be able to take short term profits and then re-evaluate a new entry.
Second target corresponds to 50mda which will increase the resistance and will need to consolidate before continuing a run and breaking the downtrend.
9 times out of 10 lows are tested (bullish double bottom) so its not impossible to believe that A2M could revisit low 7's if the 50mda proves too strong to break.
Chart Update, page-19703
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Last
$5.28 |
Change
0.090(1.73%) |
Mkt cap ! $3.822B | |||
| Open | High | Low | Value | Volume |
| $5.23 | $5.29 | $5.14 | $18.87M | 3.614M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 12652 | $5.27 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.29 | 3513 | 1 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| A2M (ASX) Chart |