RFT weekly displays a perfect definition of an ascending wedge. Formed over a longer period this type of formation is usually a reversal trend tool. However, in this case todays breakout from the opening was actually a buy signal on the weekly. False downward breakouts around 1 & 2 emphasises the importance of waiting for sustained breakout movement which would have been bearish. Given this formation (& note other positive indicators) dare I say I think at any price above top of the wedge 4.7c(ish)+ this is a buy and will spike further.
RFT weekly displays a perfect definition of an ascending wedge....
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 (20min delay)
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Last
0.8¢ |
Change
0.001(14.3%) |
Mkt cap ! $11.05M | |||
| Open | High | Low | Value | Volume |
| 0.7¢ | 0.8¢ | 0.7¢ | $4.109K | 558.4K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 307137 | 0.7¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.8¢ | 4262213 | 6 |
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| Last trade - 11.44am 08/07/2024 (20 minute delay) ? |
| RFT (ASX) Chart |