Nothing much to add. We got supported at the bottom of the flag today. Flags are neutral in nature but we are past the 3/4 mark, most upside breakouts happen on or before the 3/4 so my call would be a breakdown or more sideways from here. The neutral quarterly today also points to this on the FA.
The good news is that the 200 day is not far below and should act as support if we do breakdown from the flag. That will be a very good top up oppurtunity. As everytime EVN touches the 200 day EMA she forms a solid base and a very strong move up happens. At his point this is my preferred scenario as it is an almost guaranteed all time high judging by the price action in the last 5 years.
If gold breaks out to all time highs however then all bets are off. It will take EVN to all time highs too and she won't have to rely on her own steam to do that.
EVN chart, page-809
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Last
$3.72 |
Change
-0.140(3.63%) |
Mkt cap ! $7.317B | |||
| Open | High | Low | Value | Volume |
| $3.74 | $3.74 | $3.66 | $21.68M | 5.860M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 50 | 150851 | $3.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $3.72 | 81394 | 61 |
View Market Depth
| Last trade - 12.57pm 08/08/2024 (20 minute delay) ? |
| EVN (ASX) Chart |