The bottom of the wedge has held. The next logical target is now the top line which will be a roughly 20% rise on top of the 10% rally last night.
Our mid caps are often more volatile than the HUI so if the HUI reaches the target and if we follow the lead, we might be looking at an average of around 30% or better gains off yesterday’s closes. Each stock will have its own targets that will vary from that number.
If the top line is taken out then the reversal of the bear market will be confirmed so might not be wise to sell on the line, but rather wait to see if it turns lower or breaks out (assuming it gets there).
You would have to expect some strong short covering today. Time to enjoy the ride again. Updated chart below.
how many ounces, page-87
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Last
0.2¢ |
Change
-0.001(33.3%) |
Mkt cap ! $4.235M | |||
| Open | High | Low | Value | Volume |
| 0.2¢ | 0.2¢ | 0.2¢ | $150 | 75K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 28 | 15798362 | 0.2¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 0.3¢ | 23473387 | 24 |
View Market Depth
| Last trade - 11.02am 15/07/2024 (20 minute delay) ? |
| PRX (ASX) Chart |