CUV FOLLOW-UP UPDATE
Keeping It Simple with Price Action & Technical Analysis - "The Noiseless Way".
Very excited to share this update to my last post after this week's "stupendous" performance by CUV.
Infact, I was waiting for just this break-out.
From my above post on 31-May-2024, I had noted " All in all, I see strength to continue. Whenever it makes a close above around 16.2, that will be a multi-column breakout... and would be above all resistance lines.. On path to a new up-trend then. "Click here to read that : 31-May-24 : ASXCharts Analysis of CUV
The stock this week has convincingly crossed that resistance, and its time to have a fresh new look at the chart and price action, and make some BOLD price forecasts. Please note, I own this stock and my analysis may be biased and even incorrect. DYOR, and dont forget the stop-loss.
* This is a 0.15 box size of CUV on a daily time frame
* The stock was in a down-trend since Oct'2021 and hit a low in the GREEN zone in Jun'2022.
* It then changed direction, and within 206 days made a new High with a gain of 105% around price of 28 in start of 2023.
* Since start of 2023, it then again has been in a down-trend, and made a low AGAIN in the GREEN zone in Mar'24.
* Within 96 days since then, it has now broken out of that immediate RED resistance trend line drawn from the last big drop.
* In P & F, this was a multi-column break-out, and I am now looking forward to it breaking out that DOTTED resistance line very close above.
* If you see that DOTTED line, thats the long-term resistance line since that downtrend started in 2021, and what has once been tested and failed.
* A break above this DOTTED line will be the greenshoots of a long-term trend reversal, and then I have made my own BOLD preditions ( for myself) of a price target of around 28... Provided, it consolidates and does not go below that short-term RED trend line again.
Good Luck..
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Last
$14.72 |
Change
-0.100(0.67%) |
Mkt cap ! $737.1M |
Open | High | Low | Value | Volume |
$14.80 | $14.97 | $14.60 | $600.3K | 40.64K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
2 | 324 | $14.69 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$14.75 | 100 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 324 | 14.690 |
1 | 324 | 14.660 |
1 | 324 | 14.640 |
1 | 324 | 14.610 |
1 | 20 | 14.600 |
Price($) | Vol. | No. |
---|---|---|
14.750 | 100 | 1 |
14.840 | 324 | 1 |
14.860 | 324 | 1 |
14.890 | 324 | 1 |
14.920 | 324 | 1 |
Last trade - 16.10pm 06/09/2024 (20 minute delay) ? |
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CUV (ASX) Chart |