Nice open today.
Price has broken out IMO
Its over 200EMA
Rough Triangle under longer term downtrend suggest next stop on push is 65c to 70c, where I think it needs to consolidate, if the move is on no news.
Some stale holders to get through I think, but continued chip sector momentum, good news from Powell on US markets and incidental news for Intel last night getting $20 billion in grants and loans from the US government, keeps this little Aussie powerhouse in play, in a sector the US is desperate to stay ahead of China on.
Below was drawn yesterday. You can make an argue as of now that the top of the triangle is at 49c, but its the very fact volume is rising below the purple downtrend line and price is through the 50 and 200 EMA's that really matter
AXE Chart, page-49
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Last
27.5¢ |
Change
-0.010(3.51%) |
Mkt cap ! $68.80M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 28.5¢ | 26.5¢ | $36.83K | 133.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 57654 | 27.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 27.5¢ | 2000 | 1 |
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| Last trade - 14.58pm 29/08/2024 (20 minute delay) ? |
| AXE (ASX) Chart |