If we reverse and close this week around 16-16.5c, then the resolution of the weekly chart to the upside could happen before end of May.
If we don't reverse and close the week at the current support of 14.5c, then the resolution to the upside could take until end of June / early July. We would also be bouncing between 15c and 20c between now and then.
Upside target is 49c.
Downside is limited both technically and fundamentally. We are at horizontal and diagonal support of 14.5c right now.
Fundamentally: Market cap at 14.5c is around $90mln. Annual revenue on a very conservative volume of 30kt per quarter is $60mln.
In my view it can't go any lower than current price, except for maybe a temporary violent tree shake.
Daily chart is also at support of 14-14.5c.
CXM Chart, page-113
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Last
3.7¢ |
Change
-0.002(5.13%) |
Mkt cap ! $31.71M | |||
| Open | High | Low | Value | Volume |
| 3.7¢ | 3.8¢ | 3.7¢ | $21.83K | 590.0K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 315124 | 3.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 3.9¢ | 117838 | 3 |
View Market Depth
| Last trade - 13.14pm 31/07/2024 (20 minute delay) ? |
| CXM (ASX) Chart |