RSG 0.81% 61.0¢ resolute mining limited

CONTINUATION H&S

  1. YLJ
    819 Posts.
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    https://hotcopper.com.au/data/attachments/2276/2276060-2980e4991c75f642f2e6956298b523fe.jpg
    Interesting series of patterns on RSG since the formation of the H&S top formed July-Sep 2019
    (not shown on chart). It subsequently formed a bearish Continuation H&S at the target level
    and proceeded to it's low in mid-March this year.
    It has since formed and broken out from what can be viewed as either a H&S bottom or an
    Ascending Triangle (if you do not like the asymmetrical look of the H&S).
    The breakout on 14 May was stopped short and has formed a bullish Continuation H&S
    with a breakout last Wednesday (July 1st).
    The subsequent retest of the neckline slightly penetrated it, but not enough to hit a
    properly placed stop.
    I did not see or take that trade (& probably would not have) but I have taken an entry
    this morning with a tight stop placed below the swing low, (one of the advantages trading a retest).
    Will see how it behaves and will likely cut it if it mucks around for too long, but
    worth a shot IMHO.

    Dotted blue lines are the measured targets, the higher being that of the H&S/Ascending
    Triangle and the lower that of the Continuation H&S.

    GLTA


 
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Last
61.0¢
Change
-0.005(0.81%)
Mkt cap ! $1.298B
Open High Low Value Volume
61.0¢ 62.0¢ 60.5¢ $4.257M 6.968M

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No. Vol. Price($)
11 175546 60.5¢
 

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Price($) Vol. No.
61.0¢ 7201 1
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Last trade - 16.10pm 26/07/2024 (20 minute delay) ?
RSG (ASX) Chart
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