A2M 1.05% $6.59 the a2 milk company limited

In the last six weeks, A2M has developed an ascending triangle...

  1. 250 Posts.
    lightbulb Created with Sketch. 330
    In the last six weeks, A2M has developed an ascending triangle (continuation):

    https://hotcopper.com.au/data/attachments/2331/2331865-3afaed925e5c5eadc076cb1f4d82039d.jpg

    Checking off this chart against Stockharts.com - https://school.stockcharts.com/doku.php?id=chart_analysis:chart_patterns:ascending_triangle_continuation

    (1) "In order to qualify as a continuation pattern, an established trend should exist."

    Check - Current triangle continues an earlier (albeit broader) uptrend since March.

    (2) "At least 2 reaction highs are required to form the top horizontal line"

    Check - See 2 highs on the upper line (white circles).

    (3) "These reaction lows should be successively higher, and there should be some distance between the lows"

    Check - See 3 successively higher lows (white ovals) separated by highs.

    (4) "The length of the pattern can range from a few weeks to many months with the average pattern lasting from 1-3 months.

    Check - Current pattern is 6 weeks old.

    (5) "As the pattern develops, volume usually contracts."

    Check - See blue arrow and recent decline in volume MA (orange squiggle).

    The upshot (according to Chartschool):"Regardless of where they form, ascending triangles are bullish patterns that indicate accumulation."

    Let's see if A2M tests $20 (for a 3rd time) in the coming weeks - either before or after the August 19th report.

    I think Bessie here is owned by Dairy Farmers:

    https://hotcopper.com.au/data/attachments/2331/2331888-3615861f876f6848db2a559c3ad16f43.jpg
 
watchlist Created with Sketch. Add A2M (ASX) to my watchlist
(20min delay)
Last
$6.59
Change
-0.070(1.05%)
Mkt cap ! $4.764B
Open High Low Value Volume
$6.62 $6.68 $6.55 $5.062M 766.8K

Buyers (Bids)

No. Vol. Price($)
2 5235 $6.58
 

Sellers (Offers)

Price($) Vol. No.
$6.60 37553 7
View Market Depth
Last trade - 16.10pm 03/07/2024 (20 minute delay) ?
A2M (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.