Looks like it was a pump from Bell Potter (per Woody above) and the latest attempt to breach 150 meaningfully has turned into a failed 2 day campaign, despite the promising volume yesterday.
By my calculations we have now seen 7 failed attempts to clear $1.50 since the SP dropped below $2 in Mar 2023.
Every time it fails to sustain the rally and falls back.
This has developed into some pretty serous resistance in TA terms and I expect it will take some positive news on commissioning et al to breach 150. Have to say it looks like another drift back to support @ 120 region.
Daily chart below has given off a sell signal on price and I expect RSI will do same ( cross below 70 on way down) by the close of Today.
I leave my sentiment on buy, as it is long term, but actually short term sentiment is a sell and buy back in when RSI gives off the buy signal.
GL
Wazz
General discussion, page-4395
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Last
$1.56 |
Change
-0.025(1.58%) |
Mkt cap ! $400.8M | |||
| Open | High | Low | Value | Volume |
| $1.56 | $1.58 | $1.53 | $673.0K | 433.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 2463 | $1.56 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.57 | 2590 | 1 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| KCN (ASX) Chart |