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40.5¢ metals x limited

We are looking at a reversal pattern instead of a continuation...

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james70

361 Posts.

220

02/09/21

11:40

Post #: 55776929
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Originally posted by Bullyboy: ↑

Perhaps not:

Link: https://www.investopedia.com/terms/c/cupandhandle.asp
As a general rule, cupand handle patterns are bullish price formations. Founder of the term, WilliamO’Neil identified four primary stages of this technical trading pattern. First,approximately one to three months before the “cup” pattern begins, a securitywill reach a new high in an uptrend. Second, the security will retrace,dropping no more than 50% of the previous high creating a rounding bottom.Third, the security will rebound to its previous high, but subsequentlydecline, forming the “handle” part of the formation. Finally, the security breaksout again, surpassing its highs that are equal to the depth of the cup’s lowpoint.

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We are looking at a reversal pattern instead of a continuation pattern. Do you agree?

MLX Price at posting: 32.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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(20min delay)
Last 40.5¢		Change -0.010(2.41%)		Mkt cap ! $367.0M

Open	High	Low	Value	Volume
41.0¢	41.5¢	40.0¢	$301.9K	739.2K

Buyers (Bids)

No.	Vol.	Price($)
23	572628	40.0¢

Sellers (Offers)

Price($)	Vol.	No.
40.5¢	157175	15

View Market Depth

No.	Vol.	Price($)
22	562228	0.400
10	244832	0.395
11	297877	0.390
7	436442	0.385
9	260108	0.380

Price($)	Vol.	No.
0.405	167662	16
0.410	279960	13
0.415	221431	10
0.420	319979	11
0.425	144850	6

Last trade - 15.21pm 02/09/2024 (20 minute delay)

MLX (ASX) Chart