My thoughts, purely from a TA perspective.
Weekly chart suggests that a reversal or bottom is in or at least very near. Couple of things supporting this:
1) Bullish engulfing candle on the previous week. Another green (orange) candle this week would further validate this pattern. Also the volume last week is very encouraging.
2) Angle of the last drop (top to bottom) is smaller compared to the previous drops. This means it has taken more supply to push price down lower, further suggesting supply may be dwindling and accumulation may be happening.
3) Bullish divergence from the end of October.
4) Both RSI and MACD moving up, heading into bullish territory.
It will take some weeks to play out. All in all, the stock looks good from this perspective. Needless to say these are only my opinions and not financial advice!
My thoughts, purely from a TA perspective.Weekly chart suggests...
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Last
$1.10 |
Change
0.005(0.46%) |
Mkt cap ! $2.873B | |||
| Open | High | Low | Value | Volume |
| $1.10 | $1.10 | $1.09 | $7.936M | 7.258M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 28889 | $1.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.10 | 1633801 | 41 |
View Market Depth
| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| AMP (ASX) Chart |