end of day 25 august - just TA here, probly not relevant to LT holders
This charts showing a RSI swing failure setup...
Bullish Swing Failure in RSI occurs when:
RSI below 30 --> heads above 30 --> makes a high then turns back down towards 30 --> stops, making a higher low before 30 --> turns back up and goes higher than the last high.
[The failure basically indicates a change in trend in the RSI]
The RSI swing failure has proven a very powerful signal lately in a number of stocks I've been following.
Also on the chart you will see, that for the RSI to put in a Swing Failure it will have to break out of the mini-fork within the broader downtrend fork... These forks are given extra validity by the fact that the trigger line of the broader fork is in fact the downtrend line.
A few things lining up here IMO -
1. We have what appears low volume testing, it needs to be confirmed by higher low upbar tomorrow;
2. If the low volume test is confirmed as in (1) above, then the SP will have to break through the minifork;
3. Also this SP action will probably cause the RSI to confirm a bullish swing failure by getting above the red dashed line. If not tomorrow then at latest monday if monday isn't a down day (red line on RSI = 44. RSI 45+ would confirm the signal)
If all of (1) - (3) pan out around the same time would be a solid buy signal IMO. First stop before hesitation would 22-23c, upper tyne broader fork, which conveniently would be testing right up toward the top of that ugly downbar. If not then potentially down to middle tyne of minifork (15.5c - 16c).
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Last
34.0¢ |
Change
0.000(0.00%) |
Mkt cap ! $493.8M |
Open | High | Low | Value | Volume |
34.5¢ | 35.0¢ | 33.5¢ | $724.1K | 2.106M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 60483 | 34.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
34.5¢ | 55452 | 4 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
2 | 35486 | 0.340 |
5 | 67130 | 0.335 |
4 | 53864 | 0.330 |
8 | 54784 | 0.325 |
6 | 118110 | 0.320 |
Price($) | Vol. | No. |
---|---|---|
0.345 | 55452 | 4 |
0.350 | 98597 | 7 |
0.355 | 143919 | 6 |
0.360 | 122188 | 7 |
0.365 | 178497 | 8 |
Last trade - 16.10pm 29/07/2024 (20 minute delay) ? |
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