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GoldPirate

10,724 Posts.

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16/11/23

10:58

Post #: 70934319
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Originally posted by Dragone64: ↑

Completely detached from any "results" or developments, I would say that the zone around 55 cents is important from a technical chart perspective. A break to the downside could - and not many people will like to hear this - pave the way towards 35-40 cents (there is a gap there). On the other hand, a "touch" of 55 cents and then a turn to the upside would be seen as positive (reversal formation - double bottom). A break of 72-75 cents to the upside would then free the SP and open the way towards 1.40 to 1.50 (there is also a gap there).

I currently think that an upward turn is more likely. At least if you look at the movements on the markets (copper price, interest rates etc.). In my view, there is some catching up to do - even among explorers (producers such as Glencore have risen sharply in recent days). Perhaps the belief in a "turnaround" is not yet there. But it will come. If the SP unexpectedly crumbles further, then in my view this could be an indication that "someone" wants to see the SP lower. We can then speculate about the reasons. DYOR

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That is one horrible graph

CNB Price at posting: 61.0¢ Sentiment: None Disclosure: Not Held
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(20min delay)
Last 52.0¢		Change -0.005(0.95%)		Mkt cap ! $91.98M

Open	High	Low	Value	Volume
52.5¢	53.5¢	52.0¢	$43.92K	83.71K

Buyers (Bids)

No.	Vol.	Price($)
3	23937	52.0¢

Sellers (Offers)

Price($)	Vol.	No.
52.5¢	882	3

View Market Depth

No.	Vol.	Price($)
3	23937	0.520
1	1300	0.515
3	14000	0.510
2	9500	0.505
2	11000	0.500

Price($)	Vol.	No.
0.525	882	3
0.530	35000	1
0.535	50000	1
0.540	41668	3
0.545	5504	1

Last trade - 12.45pm 26/07/2024 (20 minute delay)

CNB (ASX) Chart