27-Nov-2023 : Keeping it Simple with Price Action & Technical Analysis.
The resilience of a stock is determined.. when the overall market tanks almost 1% as it happened today. In this down market, CU6 bucked the trend to close almost 4% up... and in the way.. almost completing the "Cup & Handle" pattern with probability of more upside and a fresh new uptrend in nascent stage.
When we go deep into the charts of CU6, we can see where that resilience comes from;
* CU6 floated in Aug'21 at an issue price of $ 1.26. It then went in a bear phase, that ended in Jul'2022
* Since Jul'22, the stock has been in a slow upward burn... as can be seen with the "GREEN" higher lows.
* The first leg of that upward journey seems to now have closed with the stock almost close to the issue price, and has completed a bullish Cup & Handle with the new upward move having started since start of Nov'2023. If this maintains its up move, the RED resistance zone would then become the new support.
CU6 - ASX Charts
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 (20min delay)
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Last
$2.56 |
Change
0.030(1.19%) |
Mkt cap ! $784.7M | |||
| Open | High | Low | Value | Volume |
| $2.54 | $2.58 | $2.53 | $1.303M | 511.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 431 | $2.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.57 | 1556 | 1 |
View Market Depth
| Last trade - 16.10pm 29/04/2024 (20 minute delay) ? |
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Last
$2.56 |
Change
0.030 ( 0.84 %) |
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| Open | High | Low | Volume | ||
| $2.54 | $2.57 | $2.53 | 46017 | ||
| Last updated 15.59pm 29/04/2024 ? | |||||
| CU6 (ASX) Chart |