CTM 4.76% 40.0¢ centaurus metals limited

CTM chart, page-9

  1. YLJ
    819 Posts.
    lightbulb Created with Sketch. 870

    https://hotcopper.com.au/data/attachments/2173/2173527-62c9720b0069010a09dcf9591972d658.jpg
    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.
    Last edited by YLJ: 22/05/20
 
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Last
40.0¢
Change
-0.020(4.76%)
Mkt cap ! $197.9M
Open High Low Value Volume
42.0¢ 42.5¢ 40.0¢ $394.5K 958.1K

Buyers (Bids)

No. Vol. Price($)
2 180823 40.0¢
 

Sellers (Offers)

Price($) Vol. No.
41.0¢ 10999 2
View Market Depth
Last trade - 16.10pm 08/05/2024 (20 minute delay) ?
Last
40.0¢
  Change
-0.020 ( 1.23 %)
Open High Low Volume
42.5¢ 42.5¢ 40.0¢ 232848
Last updated 15.59pm 08/05/2024 ?
CTM (ASX) Chart
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