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
51.5¢ |
Change
-0.010(1.90%) |
Mkt cap ! $255.8M |
Open | High | Low | Value | Volume |
51.0¢ | 51.5¢ | 50.0¢ | $203.2K | 398.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 15796 | 50.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
51.5¢ | 11446 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 15796 | 0.500 |
1 | 21549 | 0.495 |
2 | 52042 | 0.490 |
2 | 52063 | 0.485 |
1 | 259 | 0.480 |
Price($) | Vol. | No. |
---|---|---|
0.515 | 11446 | 1 |
0.520 | 20000 | 1 |
0.525 | 17001 | 2 |
0.530 | 12000 | 2 |
0.535 | 27145 | 3 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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CTM (ASX) Chart |