Hi all, there's been some very nice signs of strength developing in the chart over the last couple of weeks- below I've marked up with some commentary for anyone interested.
The "less healthy" up-slanting flag consolidation I commented on about 3 weeks ago since turned in to an almost textbook bull flag and even had a price spike after volume diminished to zip. But this got smacked down on the 1st July with some heavy selling- half a million in the first 25 mins- which threatened to trigger and build downward momentum.
But as it turns out the selling pressure was short lived, and the next attempt to drive price down (5/7) ended up being the initial sign of strength to start looking for good entry points. I found a nice low risk entry on Wednesday at $1.51- probably could have been a bit lower but I can be pretty conservative. Anyway Friday's low volume test bar is a positive sign that it could be preparing for the next move up and has just about completed this little consolidation period. Perhaps a little more clearing out supply but really it looks like the next area where price might bobble about is at about $1.69- $1.70, where a bit of supply was found a couple of weeks ago- depends how strongly price approaches this area. After that then we might be joined by a few breakout traders etc that might help with adding a bit of momentum to a move upwards.
Another interesting week ahead- good luck everyone.
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Hi all, there's been some very nice signs of strength developing...
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Last
15.0¢ |
Change
-0.005(3.23%) |
Mkt cap ! $46.88M |
Open | High | Low | Value | Volume |
15.0¢ | 15.0¢ | 14.5¢ | $6.715K | 45.07K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 827895 | 14.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
15.0¢ | 260602 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
7 | 827895 | 0.145 |
3 | 403600 | 0.140 |
2 | 507407 | 0.135 |
2 | 506000 | 0.130 |
2 | 258007 | 0.125 |
Price($) | Vol. | No. |
---|---|---|
0.150 | 260602 | 8 |
0.155 | 1874571 | 26 |
0.160 | 243493 | 10 |
0.165 | 471873 | 8 |
0.170 | 116494 | 3 |
Last trade - 15.54pm 14/08/2024 (20 minute delay) ? |
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