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Quick chart for 15-22 Oct (up until 2pm) - thought it would be...

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    Quick chart for 15-22 Oct (up until 2pm) - thought it would be nice for perspective. (ill dump all my charts and self-indulged research in this thread in case it is of use)
    VWAP increased steadily in the morning trade, sitting nice and flat around 10c, right in the middle of my estimate for our next channel of trading possible - consolidation phase?

    Bear in mind the support levels are speculative, resistance levels are quite obvious, so could move either way. I am of the opinion that consolidation will occur at 10c, but unsure of the width of the channel, very hard to predict at the moment. Sell pressure is present sure, but very difficult to estimate buy momentum which is definitely there, and with announcements pending, difficult to quantify! So we could see pullback extend into the 9s, or consolidation stay within this channel, too early to say.

    The MACD cross at the end around 3pm is a good sign that we might be entering some consolidation due to increased buy momentum IMO.

    https://hotcopper.com.au/data/attachments/2583/2583234-48cf3ed12a55bec8e188c90c2d2fe7c3.jpg
    Last edited by jovialmonk: 22/10/20
 
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