Time to share a chart and put a bit of a technical perspective on the DEG story... all short term stuff and based a few of my favourite simple indicators.
The long term chart is obviously in a horrible downtrend so no need to dwell on that one for now.
Short term however, there is now room for reasonable optimism.
The stochastics and daily RSI are both deeply oversold & both showing positive divergence (indicators holding against declining share prices) - both pointing to an imminent change of trend ie firming of price.
Intra day prices over the last 9 trading sessions have formed a nice rounding bottom - also positive.
20 days simple moving average at 7c while the 50 m.a day is at 8c.
If it really gets going then the gap at 9.4c could come into the crosshairs.
Conclusion: Very good chance DEG will shortly recover from heavily oversold levels and visit the horizontal line (at 7.8/7.9c) in the near future IMO
Disclosure: I am not a qualified chartist nor do I pretend to be one, I just rely on charts to time my entries when they are supportive of the fundamentals. I was a buyer again today at 5.5c to add to my purchases earlier this week - a long term hold for me.
chart time
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 (20min delay)
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Last
$1.35 |
Change
0.015(1.12%) |
Mkt cap ! $2.499B | |||
| Open | High | Low | Value | Volume |
| $1.31 | $1.38 | $1.30 | $8.689M | 6.446M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 48972 | $1.35 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.36 | 6647 | 1 |
View Market Depth
| Last trade - 16.10pm 19/04/2024 (20 minute delay) ? |
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Last
$1.36 |
Change
0.015 ( 2.28 %) |
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| Open | High | Low | Volume | ||
| $1.31 | $1.38 | $1.30 | 1067736 | ||
| Last updated 15.59pm 19/04/2024 ? | |||||
| DEG (ASX) Chart |