HYD 0.00% 1.4¢ hydrix limited

Good looking chart

  1. 4,504 Posts.
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    Just for fun look at this chart and tell me what its next move is likely to be.
    The red candles are up days & green ones down days.

    I would think to myself that this stock is having a great run up & looks set to continue.

    Based on my box theory and incorporating some historic trend line angles which have been pretty good for the last six months I would also say that the sp is headed to the top of the box.

    It is possible & normal to expect the sp to trade back to the start level of the box 7 at $0.13 before resuming the upward trend & It may also find a small resistance at $0.115 again before following one or two of the rising trend lines to reach the giddy heights of $0.10 at the top of the box were I would expect it to consolidate again for a while before continuing up again to the next level predicted by the range box to be at $0.068
    That level also corresponds to the final gap to be filled between $0.069 to $0.046.

    If this chart was looked at in a normal view as a stock having the great run up as a chart normally looks then I would be pretty happy atm.
    Unfortunately this chart is inverted so my expectations of a continuation of the pattern are pretty scary and I have to say that if PSY does not pull the rabbit from the hat pretty quickly then we are in for some more painful times ahead.

    If ever I was looking at a chart and hoping for a reversal of trend and a box failure then this is one of those times.
    PSY 2 July.jpg
 
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1.4¢
Change
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Mkt cap ! $3.559M
Open High Low Value Volume
1.4¢ 1.4¢ 1.4¢ $1.494K 106.6K

Buyers (Bids)

No. Vol. Price($)
2 840000 1.3¢
 

Sellers (Offers)

Price($) Vol. No.
1.5¢ 850000 3
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Last trade - 12.29pm 16/07/2024 (20 minute delay) ?
HYD (ASX) Chart
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