8CO 9.52% 3.8¢ 8common limited

Fridays breakout volume has directed me to update my...

  1. 1,278 Posts.
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    Fridays breakout volume has directed me to update my chart.

    • Volatility in price action has contracted and I think it has a little further to go in tightening up before any meaningful move could be expected.
    • Volume drying up so the supply coming to market is thinning.
    • Price trying to pull away from emas.
    • Looks like a period of accumulation has taken place over past 6 months with buyers happy to soak up the selling.

    Still high conviction long hold play for me with fundamentals and technicals in alignment.

    https://hotcopper.com.au/data/attachments/2834/2834834-b6cd0dc1da03e19880c81d96e178cce0.jpg


    Monthly view, can see that overhead supply is being absorbed with the thrusts upwards. Perhaps still a few more impatient holders to get through.

    https://hotcopper.com.au/data/attachments/2834/2834848-c8c9dc35fac9ef33191859c5d4f6b87c.jpg
 
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