Pure TA viewpoint here...
The weekly chart (left) shows a 23-month potential complex H&S bottom formation with the neckline at 5.50.
Price is currently retesting a larger resistance (green) zone (based on a number of years of price action not
shown on the above chart) of between circa 5.33 & 5.62.
The daily chart (right) shows a potential H&S Continuation pattern with a down slanting neckline. The target
of the continuation pattern (yet to have a confirmed breakout) is circa 5.76. That would imply a breakout for
the weekly H&S bottom as well, bringing with it a much higher target.
A break below 5.00 would indicate weakness and a return to lower prices.
I will take the above-mentioned trade if the volume supports it with a stop below the green zone.
All IMHO
Good luck
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Last
$4.30 |
Change
-0.030(0.69%) |
Mkt cap ! $1.310B |
Open | High | Low | Value | Volume |
$4.37 | $4.37 | $4.30 | $1.241M | 287.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 7171 | $4.30 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$4.31 | 3732 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2577 | 4.300 |
1 | 4662 | 4.290 |
2 | 704 | 4.270 |
2 | 486 | 4.260 |
2 | 718 | 4.250 |
Price($) | Vol. | No. |
---|---|---|
4.310 | 484 | 1 |
4.320 | 484 | 1 |
4.330 | 484 | 1 |
4.340 | 484 | 1 |
4.350 | 484 | 1 |
Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
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BGA (ASX) Chart |