WBT 0.00% $2.51 weebit nano ltd

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  1. 1,245 Posts.
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    Not much of an update from my last post, more just a little confirmation of my analysis. I didn't expect it to run to these targets so hard and fast.
    • Price is meeting supply at the top of the cup so I'd expect a little consolidation while it digests this 75%ish move from the June low. RSI flashing overbought on the short term, combined with a spinning top I'd say there's a higher probability for the aforementioned consolidation.
    • The volume is looking promising with strong support on the up days, lower on the pull backs. Supply is being soaked up.
    • Some of the momentum indicators coming into action. The last time the 43 crossed the 65 we had the 1000% move. I don't think this is going to happen now but it's worth noting.



    https://hotcopper.com.au/data/attachments/3434/3434462-4345237db22382059441d607cde430d8.jpg


    Snapshot of the volume profile going back to Feb
    I'd expect the trapped holders to exit on breakeven here for a bit, and some profit taking to further consolidate the price. Could be over and done with quickly or it may coincide with an announcement or who knows. I think this is a pivot area worth buying on any decent low volume pull backs to support.

    https://hotcopper.com.au/data/attachments/3434/3434470-39d980785ab86e4bae435b5cbec46733.jpg
 
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