Cannot really classify the rectangle visible as a true rectangle owing to the volume within the pattern not conforming to the general rule.
I also do not classify this as a true double bottom for the same reason, as well the relatively short interval between the bottoms.
Nevertheless, there has been a clear break of the trend line here with a sharp rise in volume (Blackrock buying on the 28th) and a break of resistance today...Recent divergence on the MACD. I took a cautious entry today with a stop below the 5 sma.
I am somewhat more cautious owing to the weekly head & shoulders top (not visible on the above chart) that still has not reached it's measured move. 0.49 & 0.55 (gap) are the significant short term levels to the upside. IMHO.
GLTAH
Cannot really classify the rectangle visible as a true rectangle...
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Last
44.5¢ |
Change
0.015(3.49%) |
Mkt cap ! $215.4M | |||
| Open | High | Low | Value | Volume |
| 43.0¢ | 44.5¢ | 41.8¢ | $252.5K | 590.3K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 30000 | 43.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 44.5¢ | 80504 | 6 |
View Market Depth
| Last trade - 16.10pm 31/05/2024 (20 minute delay) ? |
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Last
44.5¢ |
Change
0.015 ( 3.49 %) |
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| Open | High | Low | Volume | ||
| 43.0¢ | 44.5¢ | 42.0¢ | 168911 | ||
| Last updated 15.59pm 31/05/2024 ? | |||||
| PPS (ASX) Chart |