ANZ is displaying a classic H&S reversal pattern between 4/2/2008 and 13/5/2008 and clearly on a downtrend. MMA's are widening, volume increased on 13/6/08 but is displaying a negative OBV. Note the increasing volume trend line and yet the sp has gone down significantly. All indicating to the possibility more downside to come.
By measure of the H&S spread ANZ could have downside of at least $1.20 taking the sp to $18.40 at least. This is precariously close to the 5 year lows I have long predicted for ANZ and my desired entry point of sub $18.
Will it get there? The ANZ is certainly doing everything possible to assist me of late.{U};VOLMA(60);MACD(26,12,9);ATR(10);&OVER=Extend.BB(20,2)&COMP=&Skin=GreenRed&Size=640&Layout=2Line;Default;Price;HisDate&Width=1)
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Last
$29.19 |
Change
0.460(1.60%) |
Mkt cap ! $87.58B | |||
| Open | High | Low | Value | Volume |
| $28.87 | $29.37 | $28.77 | $152.5M | 5.224M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 104 | $29.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $29.19 | 12875 | 1 |
View Market Depth
| Last trade - 16.10pm 15/08/2024 (20 minute delay) ? |
| ANZ (ASX) Chart |