Unfortunately the TA story for CLQ is less than appealing. My disclosure is that I have been watching CLQ for most of the year waiting for available funds to coincide with a good buying opportunity. Atm I have neither.
Good news is there is no big sell off (decline in SP since May is accompanied by decline in volume) but it is currently in oversold territory (shown by low RSI and Stochastics).
However, it is not clear how long it will stay oversold, as no indicators at this stage are pointing to a reversal. Daily SP is below short, medium and long-term moving averages and below lower Bollinger band. Last line of reasonable support was 0.16 and today SP closed below it. Next support is around the 0.14 level.
Unfortunately looks like more downside until buying volume comes in (looking for value). Weekly and monthly charts also suggesting more downside. Any positive announcement will negate the poor TA outlook.
ALL IMO.
CLQ Chart, page-2
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Last
40.0¢ |
Change
0.010(2.56%) |
Mkt cap ! $36.09M | |||
| Open | High | Low | Value | Volume |
| 39.0¢ | 40.0¢ | 36.5¢ | $7.239K | 18.91K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7800 | 37.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 40.5¢ | 235 | 1 |
View Market Depth
| Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
| SRL (ASX) Chart |