From a classical charting perspective, it could be classified as a reversal rectangle.
This would give a measured target of about 0.475
In the case of a long and narrow rectangle (less than 10% of the underlying price)
once can double or even triple that target. This is not the case with CTM.
Looks like CTM has a good chance of a weekly close above the upper boundary,
which would be a good sign. Breakout volume is not fantastic though.
That said, less established companies with small market caps are generally
much more volatile (for better or worse),and unless they have a history of
respecting pattern targets and formations I am wary.
For someone with a fundamental perspective (hopefully some history of success too)
and valuation opinion, a chart would be most useful (if at all) for ideal entry points and
less so for targets IMHO. Some would also see a large bearish pattern breakout
to the downside as a time to step aside temporarily or double-check those calculations.
All IMHO,
Good luck.
CTM chart, page-9
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Last
30.0¢ |
Change
0.005(1.69%) |
Mkt cap ! $148.4M |
Open | High | Low | Value | Volume |
29.0¢ | 30.0¢ | 28.5¢ | $331.8K | 1.123M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 30613 | 28.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
31.0¢ | 8270 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 30613 | 0.285 |
4 | 67500 | 0.280 |
3 | 18000 | 0.270 |
2 | 39025 | 0.265 |
4 | 61064 | 0.260 |
Price($) | Vol. | No. |
---|---|---|
0.310 | 8270 | 2 |
0.315 | 51700 | 2 |
0.320 | 60108 | 2 |
0.325 | 83372 | 4 |
0.335 | 3846 | 1 |
Last trade - 16.10pm 29/03/2024 (20 minute delay) ? |
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Last
28.5¢ |
  |
Change
0.005 ( 3.39 %) |
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Open | High | Low | Volume | ||
30.0¢ | 30.0¢ | 28.5¢ | 186819 | ||
Last updated 15.59pm 29/03/2024 ? |
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CTM (ASX) Chart |