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
$1.99 |
Change
-0.045(2.22%) |
Mkt cap ! $305.6M |
Open | High | Low | Value | Volume |
$2.04 | $2.04 | $1.96 | $653.3K | 329.2K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 2500 | $1.98 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$1.99 | 5 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 2500 | 1.980 |
1 | 10167 | 1.965 |
1 | 260 | 1.960 |
5 | 14007 | 1.950 |
1 | 4800 | 1.940 |
Price($) | Vol. | No. |
---|---|---|
1.985 | 5 | 1 |
2.020 | 13999 | 1 |
2.040 | 7000 | 1 |
2.050 | 550 | 1 |
2.060 | 1221 | 1 |
Last trade - 16.10pm 13/05/2024 (20 minute delay) ? |
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Last
$1.97 |
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Change
-0.045 ( 2.48 %) |
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Open | High | Low | Volume | ||
$2.03 | $2.03 | $1.96 | 64163 | ||
Last updated 15.59pm 13/05/2024 ? |
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