Hi Ed.....time for some COMPARATIVE charting of 2(?) of your favourite stocks.......EBR & EMV.
The common thread is the HORIZONTAL extensions of ALL 3 channel ranges.....and of more significance is the high/low extension.......74c. for EBR & $2.23c. for EMV.
This (common) level is the long term ('canary in the coalmine') market sentiment indicator.......NEUTRAL.
Break outs to new ATH's is signalled when the share price re tests the rmp level between the upper channel range.......$1.045c. for EBR & $3.32c. for EMV.
The SMN chart below is for longreach.....and well aware of no change in fundamentals, but the effect of time attrition has on the share price.
So, the first AFFIRMATIVE re tests to new ATH's ?.....EBR $1.045c......EMV $3.22c. .....SMN $1.98c.
BTW...this is a common CHART pattern across a multitude of stocks over time......some which have taken up to 15 years to 'mature'.
Cheers.
Charting, page-181
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Last
$1.04 |
Change
0.045(4.52%) |
Mkt cap ! $320.4M | |||
| Open | High | Low | Value | Volume |
| $1.01 | $1.04 | $1.00 | $118.6K | 116.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $1.04 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.04 | 4925 | 1 |
View Market Depth
| Last trade - 16.10pm 17/05/2024 (20 minute delay) ? |
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Last
$1.04 |
Change
0.045 ( 3.94 %) |
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| Open | High | Low | Volume | ||
| $1.02 | $1.04 | $1.00 | 21538 | ||
| Last updated 15.42pm 17/05/2024 ? | |||||
| EBR (ASX) Chart |