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..
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Last
$2.05 |
Change
0.010(0.49%) |
Mkt cap ! $315.6M |
Open | High | Low | Value | Volume |
$2.07 | $2.07 | $2.04 | $162.9K | 79.47K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 8678 | $2.05 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.07 | 2124 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 8678 | 2.050 |
5 | 74012 | 2.040 |
3 | 2434 | 2.030 |
3 | 55374 | 2.020 |
2 | 15000 | 2.010 |
Price($) | Vol. | No. |
---|---|---|
2.070 | 2124 | 1 |
2.080 | 2124 | 1 |
2.100 | 3098 | 4 |
2.110 | 5392 | 1 |
2.120 | 9836 | 2 |
Last trade - 16.10pm 17/07/2024 (20 minute delay) ? |
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