Yeah sure mate. It looks to me like we peaked and started a correction yesterday morning at $2.30 and have been in a down trend since. The last few hours of today's trading formed a bear pennant and judging by the sell off of shares at the closing auction I'd guess it will break down tomorrow. However, should only be using the 5 min chart for intraday and not for daily or long term charting.When combined with the daily we can see a spinning top formed yesterday and bearish reversal confirmed today with lower prices. We can also see the overbought RSI starting to turn and the weighted moving average price. I believe the gravestone doji that formed last Friday wasn't confirmed on Monday due to the news flow but this time will be different if no further announcements. Pretty sure this is going to grind down to mid $1 range before larger buy volume comes back in.
Chart, page-15923
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Last
29.0¢ |
Change
0.035(13.7%) |
Mkt cap ! $572.0M | |||
| Open | High | Low | Value | Volume |
| 26.0¢ | 29.0¢ | 26.0¢ | $10.11M | 36.62M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 22403 | 28.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.0¢ | 628072 | 21 |
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| Last trade - 16.10pm 08/11/2024 (20 minute delay) ? |
| BRN (ASX) Chart |