Resurrecting this thread for anyone interested in charts, rather than clutter other threads.
Triangle definitely broken to the topside. A retrace and bounce off would be better long term, as the RSi is negatively divergent and MACD look stretched. Thats doesn't negate the chance of it continuing higher.
Moving averages have all turned upward.
Downtrend line from around $1 is broken at the same juncture as triangle breakout. ( Downtrend line is far longer and steeper if you look on weekly - I am focusig on shorter term momentum and movement here)
Year end tax loss selling likely done.
Mid 70's seems a near term possibility but the next real target is a hair under $1 which roughly equates to about $250m mkt cap. (Triangle target is roughly 24c on 65c breakout or 89c) Hard to say whether this is high low or fairly valued at that point. Most Aussies would baulk at that with no revenue, most Americans in the space would regard it as chump change for the sector. Of course, announcements with some clout will back up the valuation going forward.
Either way, IMO its time to hold on and nibble.
AXE Price at posting:
69.5¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)