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CORNBRED

275 Posts.

209

11/04/22

11:07

Post #: 60778894
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Originally posted by X0X0: ↑

Hello, this is my technical analysis on GBZ. My general view is that this is a stock that is having a major consolidation (as seen from the 21 bars showing that we've been in a sideways trend for about 639 days give or take). There's a lot to unpack here, but I'll try and summarise it into dot points.

Possible cup and handle formation, with the bullish pennant being the handle. Measured move from the possible cup (nothing is certain in TA) is around $0.8. However, from looking at just the pennant alone this measured move takes us to our previous 2020 local high of $0.22.
Monthly chart shows price action is making higher lows among the 21M EMA
Coming towards the apex of the triangle (decision point)
RSI is showing in the green flash that momentum is picking up. Momentum in market terms is calculated by the market participants x volume traded. Therefore if one of these is increasing, the RSI will appear bullish. Another thing to note is that the momentum is in control of the buyers, not the sellers.
Golden crosses amongst many different time frames (shorter term moving averages such as the 50 MA crossing a longer term average such as the 200 MA).
The red box shows the resistance range that needs to be broken. We're making higher lows as mentioned, so we'll eventually get there.
TK crosses

The major take away is the trend analysis, so long as we continue to make higher lows and don't take out one of the previous higher lows and create a low, I believe the stock looks good from a technical standpoint. Worst case if this turns out to be another fakeout I believe price will revisit $0.125. Anyways, I hope my post makes sense not just in my head haha

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it just touched 12.5c where do you see it moving from here based on your charting?

CORNBRED
GBZ Price at posting: 12.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 0.8¢		Change -0.001(11.1%)		Mkt cap ! $9.253M

Open	High	Low	Value	Volume
0.8¢	0.9¢	0.8¢	$3.784K	447.9K

Buyers (Bids)

No.	Vol.	Price($)
10	6563087	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
0.9¢	425640	2

View Market Depth

No.	Vol.	Price($)
9	5363087	0.008
9	5186428	0.007
1	250000	0.006
3	2400690	0.005
1	500000	0.004

Price($)	Vol.	No.
0.009	425640	2
0.010	2093334	3
0.011	600000	1
0.012	504350	2
0.013	764369	4

Last trade - 11.45am 27/09/2024 (20 minute delay)

GBZ (ASX) Chart

gbz breakout, page-11

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gbz breakout, page-11

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