Sorry Sydney guy missed your post. Without getting too technical, we were making a triangle/wedge pattern with the expectation of an upward breakout, instead we broke out to the downside. You take the widest part of the wedge and add it to the breakout.
Wedge was 4 Mar to 30 May. Would post picture BUT, I don't think it will reach the target now, so I won't bother. If you hold shorts I would close. If you hold, well, you're braver than I am, but don't sell just yet. If you held and sold, get ready for a turnaround here. The exchanges internationally have all been getting belted despite being quite defensive in nature. US:NYX has made a bullish reversal pattern on Friday so look for ASX to do the same. Be careful of sellers at around the $34 mark, the bottom of the wedge. Ok I'll post the picture later so you can see what I mean. But the main take is here, close shorts and prepare to go long, but don't actually go long just yet. Would be OK to just wait and see if it got a close over $35 for longer term traders.
asx ltd, page-15
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Last
$66.91 |
Change
0.420(0.63%) |
Mkt cap ! $12.97B | |||
| Open | High | Low | Value | Volume |
| $66.56 | $67.77 | $66.37 | $15.47M | 230.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 3182 | $66.89 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $67.10 | 429 | 1 |
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| Last trade - 16.10pm 19/11/2024 (20 minute delay) ? |
| ASX (ASX) Chart |