Very nice Falling Wedge pattern formed on the chart, with today's fundamentals giving it the perfect catalyst to complete the wedge, form a base and start a reversal upward.
The Falling Wedge is a bullish reversal pattern and here it's playing out perfectly;
fundamental news - check
rising volume - check
MACD oversold and turning up - check
MACD Divergence - Check
MACD Divergence for those unaware is a very reliable signal; it's when the share price is trending in the opposite direction to the MACD, which in our case for EFE the MACD bottomed out lower on May 13th at 3.4c, but the share price continued to fall after where the MACD slowly was rising and that is what is called a MACD Divergence and is something to look for as an indicator of if a stock is oversold or overbought.
Target price of 6.2c-6.45c but will need news and market conditions to steady to get to that, which would be just over a $50m market cap.
Ann: JV with Yongxing for Lithium Projects, page-24
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 (20min delay)
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Last
0.4¢ |
Change
0.000(0.00%) |
Mkt cap ! $4.346M | |||
| Open | High | Low | Value | Volume |
| 0.4¢ | 0.4¢ | 0.4¢ | $1.05K | 300K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 33 | 47526442 | 0.3¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.4¢ | 2966465 | 7 |
View Market Depth
| Last trade - 15.26pm 12/11/2024 (20 minute delay) ? |
| EFE (ASX) Chart |