Keeping it Simple with Price Action...
If someone asks me what a good Cup & Handle pattern it.. I would show them this copybook chart pattern that RED5 has formed.
Having now breached the resistance that was formed in the start of 2023, it has broken out, held on to that resistance as a new-formed support level, and is now inching upwards. Look at the strength in the last few days' candles.. all green and bullish pin bars.Once a stock breaks out of such a resistance..it's always good to hold back a little, let it settle, and then make a precise entry.
RED5 Charts - Technical Analysis
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Last
34.0¢ |
Change
0.020(6.25%) |
Mkt cap ! $2.312B | |||
| Open | High | Low | Value | Volume |
| 32.0¢ | 34.0¢ | 32.0¢ | $18.95M | 56.93M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 8000 | 33.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 34.0¢ | 1015223 | 12 |
View Market Depth
| Last trade - 16.10pm 30/08/2024 (20 minute delay) ? |
| RED (ASX) Chart |