ARV

11.1%

1.0¢ artemis resources limited

ARV Chart & TA, page-2

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justlove

754 Posts.

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18/07/18

09:43

Post #: 34411908
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Originally posted by BobbyKennedy ↑

With so much going on with ARV at the moment, I thought I'd have a look at the chart to try to understand where it may be heading.

In the below chart, it's obvious to me that we've been stuck in trading range between 16 at 22 for many months now. In this time we've bounced off the top and bottom of this range a number of times which resulted in a false breakout to the downside in April. At this time, we touched 15.5 very briefly and closed back on support at 16.0. In the next couple of sessions, we confirmed the rejection of the support and pushed back up to ultimately test the resistance in May.

We had good volume to punch through the resistance at 22 but bounced off the 200EMA the following session and closed below the resistance mark that same day (same day as completion of Novo share sale). Failed.

Since then, we're drifted back down to the support zone in absence of material updates from the company.

On Monday this week, we pushed down through 16 support again and touched 15.5 very briefly but we managed to close at 16 which formed a rather positive reversal doji. Yesterday's action was very positive in that we held support at 16 and went higher to close at 16.5 which tells me the sellers have been exhausted at these levels again and buyers have recognized an excellent buy opportunity which has shifted the dynamic.

Notwithstanding some major marco event or issue at RH, I think it's a good probability that we'll head north to test resistance again with the reversal of this minor downtrend to be confirmed when we close above 17.5 (circa 21EMA).

IMO this is a good buying zone and trade opportunity if you're prepared to hold a trade parcel for a week or so.

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Hope so, bought another packet yesterday. BTW from memory I was called confused for calling a false breakout and 38 on the RSI when that occurred.. -.-

ARV Price at posting: 16.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 1.0¢		Change 0.001(11.1%)		Mkt cap ! $19.16M

Open	High	Low	Value	Volume
0.9¢	1.0¢	0.8¢	$23.79K	2.642M

Buyers (Bids)

No.	Vol.	Price($)
6	1258906	0.8¢

Sellers (Offers)

Price($)	Vol.	No.
1.0¢	1297096	4

View Market Depth

No.	Vol.	Price($)
6	1258906	0.008
5	780000	0.007
1	250000	0.006
3	3400000	0.005
1	500000	0.004

Price($)	Vol.	No.
0.010	1297096	4
0.011	5318736	11
0.012	894058	5
0.013	972271	4
0.014	646916	1

Last trade - 16.10pm 02/08/2024 (20 minute delay)

ARV (ASX) Chart

ARV Chart & TA, page-2

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Westgold sets its sights on top five producer status through merger with Karora

Venture to sniff out high-grade REE targets at Jupiter project, WA

GreenX picks up prospective copper project in Germany

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Is oil undervalued?

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News

ARV Chart & TA, page-2

Top Stories

Week 31 Wrap: JORC rules to get tougher; RBA rate hike chance 50/50; US Fed Sept cut still the quo

Westgold sets its sights on top five producer status through merger with Karora

Venture to sniff out high-grade REE targets at Jupiter project, WA

GreenX picks up prospective copper project in Germany

Collaboration in a green (steel) future the focus for Magnum and Saudi partners

Vmoto sales plummet -50% YoY as weak demand in Europe & China stifles EV scooter sales growth

Is oil undervalued?

Uranium prices on the NYMEX are stable, but ASX uranium stocks are sinking on Friday. The answer lies in Kazakhstan

Commodity house Trafigura funds Develop Global's copper-zinc Woodlawn play with offtake deal in place

Cost blow-out for Rook I uranium project sees share plummet for NexGen

Featured News

Buyers (Bids)

Sellers (Offers)

Featured News