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
$5.33 |
Change
0.210(4.10%) |
Mkt cap ! $1.625B |
Open | High | Low | Value | Volume |
$5.12 | $5.33 | $5.08 | $4.603M | 878.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1951 | $5.29 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.33 | 15889 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1951 | 5.290 |
1 | 7753 | 5.270 |
1 | 2635 | 5.250 |
1 | 2635 | 5.240 |
1 | 2635 | 5.230 |
Price($) | Vol. | No. |
---|---|---|
5.330 | 15889 | 5 |
5.340 | 6545 | 2 |
5.350 | 38815 | 10 |
5.360 | 6532 | 2 |
5.370 | 36626 | 3 |
Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
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BGA (ASX) Chart |