Think of charts as evolving art forms. The analysis can change daily. Wicks often can form data points that are outliers in the analysis.
The 0.67 price level was best fit for that 62fib resistance, based on two data points of the wicks, so not considered outliers. If 0.67 gets brocken and holds, then that TA all goes in the bin as something else is forming.
The 0.39 support is off the top wick. This is the first point for support. If it breaks this then update the art work to lower the 100% level to the close price and get the new 62fib support.
This is why FA guys call charts BS. They change all the time and mostly put up after the fact. The trick is to anticipate a most likely move based of several factors. It is betting plane and simple... but can improve your longer term investment chance of profit.
GLTA!
Chart, page-446
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Last
3.1¢ |
Change
0.003(10.7%) |
Mkt cap ! $6.839M | |||
| Open | High | Low | Value | Volume |
| 2.8¢ | 3.2¢ | 2.8¢ | $18.64K | 613.1K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 60000 | 3.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.2¢ | 45258 | 1 |
View Market Depth
| Last trade - 15.33pm 03/05/2024 (20 minute delay) ? |
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Last
3.1¢ |
Change
0.003 ( 6.90 %) |
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| Open | High | Low | Volume | ||
| 2.8¢ | 3.1¢ | 2.8¢ | 235438 | ||
| Last updated 15.33pm 03/05/2024 ? | |||||
| ZNO (ASX) Chart |