Hi SimonGr......recognising repeating patterns/trends play a significant role in TA interpretation.
Below is the UP TREND chart starting from 06/17 and you will note the horizontal lines (orange) where the breakouts occurred are evenly spaced.
However, (current) resistance @ 56c. is related to the prior DOWN TREND ........and a close above this level will be of some significance.
I anticipate that event will occur today, a CLOSING price ABOVE 56c.
I am also a great believer in 'mean reversion'...or 'reversion to the mean'.
Cheers.
Close to breakout, page-5
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Last
71.5¢ |
Change
-0.025(3.38%) |
Mkt cap ! $172.4M | |||
| Open | High | Low | Value | Volume |
| 74.0¢ | 74.0¢ | 70.5¢ | $95.07K | 132.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 13956 | 71.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 73.5¢ | 80350 | 2 |
View Market Depth
| Last trade - 15.59pm 26/04/2024 (20 minute delay) ? |
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Last
71.5¢ |
Change
-0.025 ( 3.38 %) |
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| Open | High | Low | Volume | ||
| 73.0¢ | 73.0¢ | 71.0¢ | 17936 | ||
| Last updated 15.59pm 26/04/2024 ? | |||||
| M7T (ASX) Chart |