19-Mar-2024 : Keeping It Simple with Price Action & Technical Analysis
Interesting story build-up on the IVE group charts...
Lets look at the Weekly chart and analyse..
This is an output of a random screener. I dont own this stock and my opinion is not a recommendation.. and DYOR
* Very clear SUPPORT and RESISTANCE zones when we look from a higher weekly level.
* The BIG Green candle on 18-Jul-2022 alone established the 2 extreme levels. That was more than 20% in 1 week.
* We see a Heads & Shoulders pattern forming, with the neckline being the top of that GREEN candle.
* Once that level is breached, the stock crashes to around 1.7... and lo & behold.. that's the same support of the BIG GREEN candle
* With the SUPPORT once more established, the price has moved up and crossed the immediate neckline resistance.
* However, it has corrected back to the same level, and now we see a green candle that has NOT breached the previous week's low.
What we want to see now ?
* The price in this week of coming weeks should rise up and atleast cross the mid level of that immediate RED candle.
* It should trend higher and cross 2.30, which will show good gaining strength to then tacke the resistance right above at 2.5
* If it crosses 2.5 ansd then 2.7, then its a clear blue sky from there... Cant see any resistance to the price on the left side after that... So new trend will form new zones..
Good Luck..
ASXCharts - IVE Group - Technical Analysis Only
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Last
$1.98 |
Change
0.090(4.77%) |
Mkt cap ! $304.1M |
Open | High | Low | Value | Volume |
$1.89 | $1.98 | $1.89 | $876.6K | 454.7K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 39879 | $1.96 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.98 | 1908 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 39879 | 1.960 |
1 | 5096 | 1.950 |
1 | 15000 | 1.930 |
1 | 22930 | 1.925 |
1 | 20000 | 1.920 |
Price($) | Vol. | No. |
---|---|---|
2.000 | 10500 | 2 |
2.020 | 13999 | 1 |
2.030 | 18500 | 1 |
2.050 | 7000 | 1 |
2.060 | 1221 | 1 |
Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
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