Great analysis @Jaykiwi80.
To me, because the double top played out almost perfectly (price dropped below the neckline to the depth of the double high), I think the triple top is not likely.
As a sign of it being likely, the SP would have bounced off the support level of around the 56c mark instead of dropping to the high 40’s.
It’s possible of course, but I think we’re in a new uptrend pattern now. Volume / MACD / EMA’s will confirm it either way over the coming weeks. Traders will usually put in a stop loss around the previous neckline if they are being cautious.
What are your thoughts? I like it when fellow heretics throw ideas out there for discussion!
CXO - Chart Thread, page-1922
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Last
11.5¢ |
Change
-0.015(11.5%) |
Mkt cap ! $246.4M | |||
| Open | High | Low | Value | Volume |
| 13.0¢ | 13.0¢ | 11.5¢ | $2.271M | 18.39M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 46 | 2973036 | 11.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.0¢ | 1235619 | 14 |
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| Last trade - 16.10pm 01/10/2024 (20 minute delay) ? |
| CXO (ASX) Chart |