I'm normally one to agree with gap fills and corrections but I don't think we'll see a meaningful pullback in a hurry. The announcement has taken the market by surprise, it's not your normal breakout that's normally retested before continuing up. The chart says it all, gap up followed by another gap up then an inside bar on contracting volume. Sellers are thin, yesterdays price action was just a reduced amount of buyers, not a flood of profit-takers which normally happens after a 45% price rise. Expect more upside.
Daily RSI has dipped back down 70 and weekly has only just poked into overbought. I think we'll see 0.66 before meeting any resistance.
Enjoy the ride.
Gap fill, page-3
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Last
57.0¢ |
Change
0.035(6.54%) |
Mkt cap ! $343.9M | |||
| Open | High | Low | Value | Volume |
| 53.5¢ | 57.0¢ | 53.0¢ | $1.243M | 2.231M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1869 | 53.5¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 57.0¢ | 30258 | 1 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| ALK (ASX) Chart |