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HGO

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4.55%

6.3¢ hillgrove resources limited

Selling pressure continues, predicted 75 being tested, further...

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fuhc46

199 Posts.

32

10/06/24

07:30

Post #: 74240786
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Originally posted by fuhc46: ↑

Copper at time of writing is 465.85 and sitting on the previous uptrend resistance. Indicated support was 460 per previous post. EMA43 offers the next support at 4.5772.

HGO price movement is following coppers' closely and appears will follow its downtrend after HGO broke through EMA43 (7.8). Next supports are 7.5 (EMA100), 7.2 (FIB .618) then 7.0 (previous uptrend support). Both daily and hourly charts indicate selling pressure and I anticipate those supports will be tested. In general 0.618 FIB is the telling moment, whatever happens around this price will determine the trend for HGO. Chart trends have little to do with fundamentals, they show sentiment. In this case it is reflecting sentiment of the market.

If the above supports fail, I anticipate 6.1 becomes the new support.

Expand

Selling pressure continues, predicted 75 being tested, further falls showing in charts. More "pretty colored lines" the SP appears to like.

70/71 are next supports, they fail then we'll see capitulation towards 61. All comes down to next company announcements and copper price. Copper charts indicate some support might be coming to stabilize the downward fall otherwise next supports are $4.288 and $4.1825.

GLTA

HGO Price at posting: 7.5¢ Sentiment: Hold Disclosure: Held
2 Upvote

0 Great analysis

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(20min delay)
Last 6.3¢		Change -0.003(4.55%)		Mkt cap ! $132.0M

Open	High	Low	Value	Volume
6.5¢	6.5¢	6.2¢	$318.5K	5.001M

Buyers (Bids)

No.	Vol.	Price($)
1	34930	6.3¢

Sellers (Offers)

Price($)	Vol.	No.
6.4¢	329384	2

View Market Depth

No.	Vol.	Price($)
1	34930	0.063
7	686190	0.062
6	602014	0.061
16	813816	0.060
3	616966	0.059

Price($)	Vol.	No.
0.064	329384	2
0.065	150000	1
0.066	140000	2
0.067	443798	4
0.068	254144	2

Last trade - 16.10pm 26/06/2024 (20 minute delay)

HGO (ASX) Chart