DVP Technical Analysis, page-1978

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Marasco

262 Posts.

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25/01/24

01:31

Post #: 72054256
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Originally posted by Exised: ↑

Pretty busy with other projects outside the market. Plus DVP is a sleep easy holding now. So my market focus is on other more undervalued stocks out there and there are plenty. Even though DVP is now a set and forget, as far as miners go DVP is still the 5th largest in the portfolio in size and returns Post #: 65671719

On the DVP TA. We've broken out of a channel formed from the July 2022 lows. The overhead trend of this channel is the top most green line. We may be in for a consolidation looking at the downward trajectory of the Stoch and RSI as circled in orange and how heated up the Upper BOL is. The volume looks to be in retreat too which adds to a consolidation scenario. The question then is where is the base going to be from here on...

A few scenarios in this short to medium term:
1. Best case scenario the run continues and challenges the next overhead resistance (red line) around the $3.79.
2. If we start consolidating this should form a base around:
2.1 The upper most blue line at $3.53. (Best case consolidation scenario)
2.2 Or We retest the green line and consolidate there. This would be the highest case probability and is where the 20 day EMA support resides.
2.3 Or Worst case we go back and challenge to the 200day EMA (orange). A good time to buy a top-up if this happens.

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would love another all round update from you on DVP mate!
DVP Price at posting: $1.99 Sentiment: Buy Disclosure: Held
1 Upvote

0 Great analysis

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