Ignoring the poorly drawn chart but focusing on what may be a double bottom on the weekly chart, I would be interested to get the thoughts of some more knowledgeable chartists.
Of what I've learnt of double bottoms:
- Volume should be higher on the first bottom than the second bottom
- The bottom price does not need to be perfectly the same at each bottom, but very close
- The volume coming out of the second bottom should increase as price increases
- Generally after the resistance out of the second bottom is cleared, there will be a pullback from the top on lighter volume back to what is now the support, and price should not fall below that support
- The next leg up (we've not yet confirmed) should see further increases in volume with price
The weekly chart below to me seems to fit this criteria
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Last
2.0¢ |
Change
-0.002(9.09%) |
Mkt cap ! $15.78M |
Open | High | Low | Value | Volume |
2.2¢ | 2.2¢ | 2.0¢ | $1.054K | 50.18K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 368985 | 2.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
2.2¢ | 201812 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 368985 | 0.020 |
1 | 40000 | 0.019 |
1 | 33000 | 0.016 |
1 | 130000 | 0.015 |
1 | 485350 | 0.014 |
Price($) | Vol. | No. |
---|---|---|
0.022 | 201812 | 1 |
0.023 | 268044 | 1 |
0.024 | 43822 | 1 |
0.025 | 250000 | 1 |
0.026 | 100000 | 1 |
Last trade - 15.40pm 26/07/2024 (20 minute delay) ? |
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FRX (ASX) Chart |