Hi all,
ARQ is looking remarkable at the moment.
Looks to be shaping up as a divergence trade... RSI is showing acutely overbought and is diverging with price ... add to this the declining volume on this second same-level high - touched within the same week.
Considering also that the money flow or accumulation/distribution - whichever tickles you fancy - are showing that the big money has been leaking out of ARQ since late November....
Importantly, price has stalled at the top (0%) of a major rising fib set which commenced at the break of $1.02 and ends at around $1.76 ...
If I was long on this I would be taking profits right now.
Since I missed the stellar run due to lack of available funds (again) consolation maybe a decent short to around $1.58 (there is a gap there) and even further to 23.6% support $1.49.
The oil price was up over the weekend I believe, so it will be interesting to see what effect this has on ARQ tommorrow.
Fundamentally, there is a spud for a drilling program coming up in next few days/weeks?? so it will be interesting to see if there will be any downward pressure from those savvy traders who 'sell on spud'. Either way ARQ looks due for a pull back in coming weeks/months to me.
Having said that it might blow straight through to a new fib pattern - lol im betting it won't.
Cheers
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Last
15.3¢ |
Change
0.003(1.67%) |
Mkt cap ! $46.96M |
Open | High | Low | Value | Volume |
15.0¢ | 15.3¢ | 15.0¢ | $24.16K | 161.0K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1015 | 15.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
14.5¢ | 20000 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
13 | 6278666 | 0.150 |
5 | 1830344 | 0.145 |
4 | 164180 | 0.140 |
4 | 32228 | 0.135 |
2 | 15398 | 0.130 |
Price($) | Vol. | No. |
---|---|---|
0.155 | 1544920 | 24 |
0.160 | 698265 | 14 |
0.165 | 263584 | 8 |
0.170 | 504284 | 5 |
0.175 | 52258 | 3 |
Last trade - 15.31pm 12/07/2024 (20 minute delay) ? |
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