Going by your logic, the prior big red monthly candle down in the $2 range was also "engulfing" at stages during the month, followed by another red month to breach the support lower - what happened next is history. Imagine selling out at $2.XX when EPS in FY23 is forecasted be $3.XX by many analysts. This price action is also commonly referred to as consolidation before a new leg higher
Good luck.
Caution, share price is too high, page-240
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Last
$7.23 |
Change
0.005(0.07%) |
Mkt cap ! $6.056B | |||
| Open | High | Low | Value | Volume |
| $7.15 | $7.28 | $7.11 | $7.406M | 1.027M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 10 | 8996 | $7.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $7.23 | 8762 | 22 |
View Market Depth
| Last trade - 11.04am 01/10/2024 (20 minute delay) ? |
| WHC (ASX) Chart |