It could be shaping into a failed breakout - much like the failed breakout we had on gold - and today's candle looks like a bearish/reversal inside day (down day and the range tightens after a solid green candle following a run up).
If it can find support on the top line of that channel, it may be a healthy pullback but unless gold picks up tonight, it's more probable that we'll fall back into the downtrend. It would be very good if we can test the LT support (rising yellow line) at around 303 before the next big move up. That would really help confirm LT trend AND set us up better for a breakout of the ST downward trend.
evn - chart, page-69
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$5.04 |
Change
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Mkt cap ! $10.02B | |||
| Open | High | Low | Value | Volume |
| $5.07 | $5.10 | $5.02 | $81.84M | 16.67M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 14558 | $5.03 |
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| Price($) | Vol. | No. |
|---|---|---|
| $5.05 | 73949 | 3 |
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| Last trade - 16.10pm 18/10/2024 (20 minute delay) ? |
| EVN (ASX) Chart |