What I also like:
1. Bullish divergence in both MACD & MACDH on the weekly chart with that double bottom.
2. The rally coming off that double bottom is a lot faster than the correction from Dec 2016 to Mar 2017. In other words it is going up faster than it went down.
An initial price projection would be adding the height of the double bottom to the top of the double bottom = $3.05 + ($3.05 - $2.70) = $3.40 although I would expect some resistance at $3.20 (the low of week ending 24/06/2016 & the previous high of week ending 27/03/2015).
Breakout in Weekly Time Frame, page-3
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Last
$2.00 |
Change
0.000(0.00%) |
Mkt cap ! $9.081B | |||
| Open | High | Low | Value | Volume |
| $1.99 | $2.01 | $1.98 | $24.46M | 12.27M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 11208 | $1.99 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.00 | 108051 | 6 |
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| Last trade - 16.10pm 24/07/2024 (20 minute delay) ? |
| VCX (ASX) Chart |