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
Pure TA viewpoint here...The weekly chart (left) shows a...
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Last
$4.39 |
Change
0.010(0.23%) |
Mkt cap ! $1.337B | |||
| Open | High | Low | Value | Volume |
| $4.42 | $4.45 | $4.36 | $2.081M | 473.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 4201 | $4.38 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.39 | 2733 | 1 |
View Market Depth
| Last trade - 16.10pm 12/07/2024 (20 minute delay) ? |
| BGA (ASX) Chart |