Hi BDV, Yes I always check the weekly charts and whet I see atm is a strong uptrend with HH's and HL's for the past 5 weeks but this week has so far made an equal low and a lower high which is an inside bar so could be the end of the uptrend for now with a minor pullback and then back up. I see resistance at $54 and $60. If we can end the week with a close above $54 on good volume then chances are we could see a test of $60 again then maybe a retracement back to $54. Old resistance being new support.
I might be a begginer but what I have learned over all the years I have been studying charts is there is so many ways to read a chart. You can basically get a variety of scenario's from the same chart so there is no right or wrong. The most important part of being a profitable trader is money management.
Let's hope tomorrow is another up day so as I can lock in some profit:)
Cheers, Crimpy
Hi BDV, Yes I always check the weekly charts and whet I see atm...
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Last
$127.10 |
Change
-0.760(0.59%) |
Mkt cap ! $212.7B | |||
| Open | High | Low | Value | Volume |
| $127.58 | $127.85 | $126.65 | $137.4M | 1.084M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7235 | $127.00 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $127.11 | 5658 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| CBA (ASX) Chart |