DEL was in a falling wedge pattern after entering the asx and hitting $0.42c and falling as low as $0.18c but has since broken out of that falling wedge pattern and looks like it's ready for a reversal. IPO price was $0.20 and it's currently consolidating around that price area. It also recently confirmed a new higher high and higher low. DEL looks like a solid buy at it's IPO price of $0.20 with the company showing promising financials, revenue, net profit, no debt and a P/E of around 6x. It's definitely a long term play but could provide some solid returns in the short term as it's financial data is signally it to be an undervalued company. DEL also has a 54% Return On Equity which is very impressive.
The trend has broken out of that falling wedge formation and I'm waiting for the trend to continue upwards and make another higher high.
*note. This is not financial advice. It's a personal opinion and analysis of the current chart.
