Have recently become a fan of AR9. Quick look at the chart below.
Lookback
- After a cup-and-handle and subsequent break-out in July, AR9 hit a high in mid-August. It has since entered a four-month downtrend (Trend 1) and is currently in a period of consolidation.
- Strong support was immediately found at the 0.618 fib level ($0.36) and this has held despite being tested multiple times.
- While in a moderate uptrend (Trend 2), AR9 failed to break the 0.236 ($0.51) and 0.382 ($0.455) fib levels. This was accompanied by a drop-off in volume and a prolonged reduction in MACD.
Current situation
- Current resistance (Resistance 1) is at the 0.5 fib level ($0.41) and this has been tested multiple times in the past three months.
- Of slight concern is the flip of EMA 20/50 from support to resistance, and up until today this looked to have returned to a support level.
- Volatility is shown to be high as per the BBQ-Squeeze. This may indicate a break-out is about to occur. The MACD has also shifted back to an uptrend and is heading into positive territory.
- Performance against Resistance 1 and Trend 1 will be key to AGRs performance for the rest of the year. A movement above EMA 20/50 would be a positive sign, combined with the volatility and MACD indicators.
AR9 chart, page-408
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Last
7.3¢ |
Change
0.002(2.82%) |
Mkt cap ! $20.92M |
Open | High | Low | Value | Volume |
7.1¢ | 7.3¢ | 6.8¢ | $43.45K | 612.6K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22986 | 7.3¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
8.0¢ | 298818 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22986 | 0.073 |
1 | 60000 | 0.069 |
1 | 30000 | 0.068 |
1 | 200000 | 0.067 |
2 | 17650 | 0.066 |
Price($) | Vol. | No. |
---|---|---|
0.080 | 298818 | 5 |
0.083 | 24240 | 1 |
0.085 | 14776 | 2 |
0.095 | 64943 | 2 |
0.098 | 25000 | 1 |
Last trade - 16.10pm 16/08/2024 (20 minute delay) ? |
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AR9 (ASX) Chart |