Daily
Positives
Stoch 5 is above the sig line & is rising
Stoch 14 is above the sig line & rising
Histogram is rising toward zero.
Negatives
Stoch 5 is very wide & is in the bearish zone below 50.
Stoch 15 is very wide & in the bearish zone below 50
MACD is below its sig line
Histogram is below zero
Inside gap at 0.155 – 0.16
Fri vol was lower than the prev bar & was net selling.
Outlook.
Despite the apparent recovery & close back in the 16.5 – 18.5 range, the daily chart looks weak & appears as just a relief rally. Last week’s high is at a resistance area of converging trends.
Fri high reached the 62% Fib retracement measured off the high at 0.19 & last weeks low at 0.145
My models show upside alerts so I expect to see a retest of 0.175 again before retesting last week’s lows down around 0.15.
First support is at 0.16 If that fails then there is a high probability that we will continue down to the 0.13 – 14 area.
The daily is heavily manipulated & just noise. Short term fluctuations are best ignored & left to the traders.
Weekly
Positives
The rising trend is still intact
Closed in the upper half of the weeks range
Negatives
Stoch 5 has crossed back below the overbought line.
Stoch 14 is still in the over-bought area
MACD is curling over/going flat
Histogram continues down toward zero
Outlook
The uptrend continues as does the games.
The retest of the support seems to have held & Vol was relatively higher than the prev week & the long tail on the bar gives the impression of support.
However, selling continued for the 7th week in a row with net selling of-3,725,850.
My weekly models show multiple downside alerts so I expect to see lower prices than the close.
Resistance is currently 0.175 – 0.19 & support at 0.165.
Breaking below there & closing in the old range would not necessarily be a bad thing & is possibly already being signalled by the indicators.
Support down there is around last week’s low around 0.15.
I don’t expect to see much headway or breaking resistance for some weeks without substantial news & the indicators, particularly the stochastics need to come down.
With no catalyst for change I will not be surprised to see 0.125 – 0.135 again in the coming weeks but that won’t change the long term trend if it happen & it may not anyway.
Meanwhile the construction of the 12k ton plant continues
2021 Charts, page-2780
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Last
13.0¢ |
Change
-0.005(3.70%) |
Mkt cap ! $182.5M |
Open | High | Low | Value | Volume |
13.5¢ | 14.0¢ | 13.0¢ | $383.9K | 2.879M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
15 | 461604 | 13.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
13.5¢ | 232446 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
15 | 461604 | 0.130 |
25 | 1012176 | 0.125 |
39 | 1138204 | 0.120 |
15 | 1490000 | 0.115 |
10 | 760953 | 0.110 |
Price($) | Vol. | No. |
---|---|---|
0.135 | 232446 | 8 |
0.140 | 1202671 | 8 |
0.145 | 1484979 | 12 |
0.150 | 1011297 | 21 |
0.155 | 419550 | 6 |
Last trade - 16.10pm 27/05/2024 (20 minute delay) ? |
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Last
13.3¢ |
  |
Change
-0.005 ( 3.92 %) |
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Open | High | Low | Volume | ||
13.5¢ | 13.8¢ | 13.0¢ | 968210 | ||
Last updated 15.58pm 27/05/2024 ? |
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